Dutch start-up launches QR code mobile payments

Dutch start-up QRID is launching a new mobile payments system, reports the website Twinkle. Payment requires users to scan a QR code with their handset. They then receive a code word over SMS, which much be confirmed to make the payment. The payment takes place through the MiniTix system run by Rabobank. The company said the advantage is that no new hardware is needed, such as with NFC systems. The company is still working on a business model for the system