ASC X9 published X9.150 on July 14, the first American national standard for merchant-presented payment QR codes. The standard defines data fields, message structures, payment payload and notification requirements for dynamically generated codes.
A single X9.150-compliant QR code can initiate a payment through FedNow or RTP for immediate settlement, through ACH for lower-cost transfers, or through emerging digital payment networks. Until now, no standard covered secured merchant-generated QR codes in the United States.
The U.S. Faster Payments Council and ASC X9 formed a Joint Standards Steering Committee in May to address standards-related barriers across the payments industry.