SCVNGR-created LevelUp announced today that it has 500,000 users, which it says validates its unconventional approach to point of sale payments.

LevelUp’s system allows smartphone users to make purchases by displaying a quick-response (QR) code on the phone's screen. The merchant scans the code with a special reader. LevelUp doesn't charge merchants transaction fees, but instead makes money on an attached system for attracting new business.

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