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AAP

Business

Poppy Johnston

QR codes could unlock lower-cost payments, says RBA

RBA Reserve Bank

Technology such as QR codes could help make payments easier and cheaper, the Reserve Bank says. (Mick Tsikas/AAP PHOTOS) (AAP)

The Reserve Bank has flagged QR code-enabled transactions and other innovative payment technologies to trim the cost of paying for things.

A senior RBA official wants to unleash a wave of innovation in the retail payments sector to drive down fees for small businesses and consumers.

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