diff --git a/src/components/views/elements/QRCode.tsx b/src/components/views/elements/QRCode.tsx
index 4ba8af2250..c58f9a0449 100644
--- a/src/components/views/elements/QRCode.tsx
+++ b/src/components/views/elements/QRCode.tsx
@@ -22,7 +22,8 @@ import { _t } from "../../../languageHandler";
 import Spinner from "./Spinner";
 
 interface IProps extends QRCodeRenderersOptions {
-    data: string | QRCodeSegment[];
+    /** The data for the QR code. If `null`, a spinner is shown. */
+    data: null | string | QRCodeSegment[];
     className?: string;
 }
 
@@ -33,6 +34,10 @@ const defaultOptions: QRCodeToDataURLOptions = {
 const QRCode: React.FC<IProps> = ({ data, className, ...options }) => {
     const [dataUri, setUri] = React.useState<string | null>(null);
     React.useEffect(() => {
+        if (data === null) {
+            setUri(null);
+            return;
+        }
         let cancelled = false;
         toDataURL(data, { ...defaultOptions, ...options }).then((uri) => {
             if (cancelled) return;
diff --git a/src/components/views/elements/crypto/VerificationQRCode.tsx b/src/components/views/elements/crypto/VerificationQRCode.tsx
index 193134cd93..1f25472341 100644
--- a/src/components/views/elements/crypto/VerificationQRCode.tsx
+++ b/src/components/views/elements/crypto/VerificationQRCode.tsx
@@ -19,14 +19,15 @@ import React from "react";
 import QRCode from "../QRCode";
 
 interface IProps {
-    qrCodeBytes: Buffer;
+    /** The data for the QR code. If `undefined`, a spinner is shown. */
+    qrCodeBytes: undefined | Buffer;
 }
 
 export default class VerificationQRCode extends React.PureComponent<IProps> {
     public render(): React.ReactNode {
         return (
             <QRCode
-                data={[{ data: this.props.qrCodeBytes, mode: "byte" }]}
+                data={this.props.qrCodeBytes === undefined ? null : [{ data: this.props.qrCodeBytes, mode: "byte" }]}
                 className="mx_VerificationQRCode"
                 width={196}
             />
diff --git a/src/components/views/right_panel/VerificationPanel.tsx b/src/components/views/right_panel/VerificationPanel.tsx
index f82c974ec2..f07569e684 100644
--- a/src/components/views/right_panel/VerificationPanel.tsx
+++ b/src/components/views/right_panel/VerificationPanel.tsx
@@ -49,6 +49,14 @@ interface IProps {
 }
 
 interface IState {
+    /**
+     * The data for the QR code to display.
+     *
+     * We attempt to calculate this once the verification request transitions into the "Ready" phase. If the other
+     * side cannot scan QR codes, it will remain `undefined`.
+     */
+    qrCodeBytes: Buffer | undefined;
+
     sasEvent: ShowSasCallbacks | null;
     emojiButtonClicked?: boolean;
     reciprocateButtonClicked?: boolean;
@@ -68,9 +76,12 @@ export default class VerificationPanel extends React.PureComponent<IProps, IStat
     /** have we yet tried to check the other device's info */
     private haveCheckedDevice = false;
 
+    /** have we yet tried to get the QR code */
+    private haveFetchedQRCode = false;
+
     public constructor(props: IProps) {
         super(props);
-        this.state = { sasEvent: null, reciprocateQREvent: null };
+        this.state = { qrCodeBytes: undefined, sasEvent: null, reciprocateQREvent: null };
         this.hasVerifier = false;
     }
 
@@ -78,7 +89,6 @@ export default class VerificationPanel extends React.PureComponent<IProps, IStat
         const { member, request } = this.props;
         const showSAS: boolean = request.otherPartySupportsMethod(verificationMethods.SAS);
         const showQR: boolean = request.otherPartySupportsMethod(SCAN_QR_CODE_METHOD);
-        const qrCodeBytes = showQR ? request.getQRCodeBytes() : null;
         const brand = SdkConfig.get().brand;
 
         const noCommonMethodError: JSX.Element | null =
@@ -97,11 +107,11 @@ export default class VerificationPanel extends React.PureComponent<IProps, IStat
             // HACK: This is a terrible idea.
             let qrBlockDialog: JSX.Element | undefined;
             let sasBlockDialog: JSX.Element | undefined;
-            if (!!qrCodeBytes) {
+            if (showQR) {
                 qrBlockDialog = (
                     <div className="mx_VerificationPanel_QRPhase_startOption">
                         <p>{_t("Scan this unique code")}</p>
-                        <VerificationQRCode qrCodeBytes={qrCodeBytes} />
+                        <VerificationQRCode qrCodeBytes={this.state.qrCodeBytes} />
                     </div>
                 );
             }
@@ -145,7 +155,7 @@ export default class VerificationPanel extends React.PureComponent<IProps, IStat
         }
 
         let qrBlock: JSX.Element | undefined;
-        if (!!qrCodeBytes) {
+        if (showQR) {
             qrBlock = (
                 <div className="mx_UserInfo_container">
                     <h3>{_t("Verify by scanning")}</h3>
@@ -156,7 +166,7 @@ export default class VerificationPanel extends React.PureComponent<IProps, IStat
                     </p>
 
                     <div className="mx_VerificationPanel_qrCode">
-                        <VerificationQRCode qrCodeBytes={qrCodeBytes} />
+                        <VerificationQRCode qrCodeBytes={this.state.qrCodeBytes} />
                     </div>
                 </div>
             );
@@ -426,6 +436,20 @@ export default class VerificationPanel extends React.PureComponent<IProps, IStat
         // if we have a device ID and did not have one before, fetch the device's details
         this.maybeGetOtherDevice();
 
+        // if we have had a reply from the other side (ie, the phase is "ready") and we have not
+        // yet done so, fetch the QR code
+        if (request.phase === Phase.Ready && !this.haveFetchedQRCode) {
+            this.haveFetchedQRCode = true;
+            request.generateQRCode().then(
+                (buf) => {
+                    this.setState({ qrCodeBytes: buf });
+                },
+                (error) => {
+                    console.error("Error generating QR code:", error);
+                },
+            );
+        }
+
         const hadVerifier = this.hasVerifier;
         this.hasVerifier = !!request.verifier;
         if (!hadVerifier && this.hasVerifier) {
diff --git a/test/components/views/elements/QRCode-test.tsx b/test/components/views/elements/QRCode-test.tsx
index 4148366063..8c27604182 100644
--- a/test/components/views/elements/QRCode-test.tsx
+++ b/test/components/views/elements/QRCode-test.tsx
@@ -22,6 +22,11 @@ describe("<QRCode />", () => {
         cleanup();
     });
 
+    it("shows a spinner when data is null", async () => {
+        const { container } = render(<QRCode data={null} />);
+        expect(container.querySelector(".mx_Spinner")).toBeDefined();
+    });
+
     it("renders a QR with defaults", async () => {
         const { container, getAllByAltText } = render(<QRCode data="asd" />);
         await waitFor(() => getAllByAltText("QR Code").length === 1);
diff --git a/test/components/views/right_panel/UserInfo-test.tsx b/test/components/views/right_panel/UserInfo-test.tsx
index 28b072a5d8..2875f7691c 100644
--- a/test/components/views/right_panel/UserInfo-test.tsx
+++ b/test/components/views/right_panel/UserInfo-test.tsx
@@ -179,6 +179,7 @@ describe("<UserInfo />", () => {
             Object.assign(this, {
                 channel: { transactionId: 1 },
                 otherPartySupportsMethod: jest.fn(),
+                generateQRCode: jest.fn().mockReturnValue(new Promise(() => {})),
                 ...opts,
             });
         }
diff --git a/test/components/views/right_panel/VerificationPanel-test.tsx b/test/components/views/right_panel/VerificationPanel-test.tsx
index 73f927afcb..1dc252c304 100644
--- a/test/components/views/right_panel/VerificationPanel-test.tsx
+++ b/test/components/views/right_panel/VerificationPanel-test.tsx
@@ -56,7 +56,7 @@ describe("<VerificationPanel />", () => {
             const request = makeMockVerificationRequest({
                 phase: Phase.Ready,
             });
-            request.getQRCodeBytes.mockReturnValue(Buffer.from("test", "utf-8"));
+            request.generateQRCode.mockResolvedValue(Buffer.from("test", "utf-8"));
             const container = renderComponent({
                 request: request,
                 layout: "dialog",
@@ -81,7 +81,7 @@ describe("<VerificationPanel />", () => {
             const request = makeMockVerificationRequest({
                 phase: Phase.Ready,
             });
-            request.getQRCodeBytes.mockReturnValue(Buffer.from("test", "utf-8"));
+            request.generateQRCode.mockResolvedValue(Buffer.from("test", "utf-8"));
             const container = renderComponent({
                 request: request,
                 member: new User("@other:user"),
@@ -198,7 +198,7 @@ function makeMockVerificationRequest(props: Partial<VerificationRequest> = {}):
     Object.assign(request, {
         cancel: jest.fn(),
         otherPartySupportsMethod: jest.fn().mockReturnValue(true),
-        getQRCodeBytes: jest.fn(),
+        generateQRCode: jest.fn().mockResolvedValue(undefined),
         ...props,
     });
     return request as unknown as Mocked<VerificationRequest>;