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Many mobile payment solutions rely on QR codes. In a transaction, what do the QR codes do ? They encrypt the transaction information so that

Many mobile payment solutions rely on QR codes. In a transaction, what do the QR codes do?
They encrypt the transaction information so that it can be transmitted more securely.
They identify the banks that hold the account balances.
They embed the users account information so that it doesnt have to be physically put in during transactions, thereby increasing the efficiency for offline transactions.
They provide a social media tool for buyers and sellers to interact, thereby allowing for more marketing and promotions.

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