Rules set for bar code, QR code payment

Bar code and quick response code payment, which has already become indispensable in most Chinese people's daily lives, will finally enter an officially regulated new era after six years of trial operations.

The People's Bank of China, the nation's central bank, released two guidelines late on Wednesday on the operational rules and technical specifications for bar code and QR code payment methods.

Under the new guidelines, QR codes are divided into static and dynamic ones. Banks and payment institutions are required to set three levels of daily transaction limits for users based on their demand and risk prevention capacity - 500 yuan ($77), 1,000 yuan and 5,000 yuan.