9to5Mac says it found reference to the QR code update on the code for the new beta before surfacing it to grab the image. The feature reportedly doesn’t work yet, but the evidence of its existence is plain to see.
It looks as though you’ll be able to scan both QR codes and regular barcodes to initiate payment, which might be handy for social distancing and not touching keypads during the ongoing coronavirus pandemic. Businesses could theoretically provide QR codes to pay to avoid contact, though the system in general is a quicker way to pay that’s common in China on the WeChat app.
We’d expect to see a functioning version of it by the time iOS 14 launches later this year alongside the iPhone 12. The public beta of the software is due to launch in July and will work on any iPhone since 2015’s iPhone 6s.