What technology is replacing the QR code?

Can you elaborate on the emerging technology that is poised to replace the QR code in our digital transactions? Are we looking at something that offers faster, more secure, or more versatile scanning capabilities? How does this new technology compare to the QR code in terms of user-friendliness, adoption rate, and potential impact on the financial industry? What challenges might this transition pose, and how are developers and regulators addressing them?