Question: Is it possible that the data of a QRCode could contain an image and text? I am not talking about an image placed on top of the QRCode, but when you scan the QRCode that it would contain the data of an image to display along with some text?

Basically when I scan my QRCode, I would like for it to show my photo name and phone number. I am pretty sure that standard QRCode readers wouldnt be able to read the data so I am sure that I would also need a custom QRCode reader.

Answer: 
Not really. The maximum amount of data you can store in a QR code is ~4KB. That's not really enough for any image files.
**Yes**, it can be possible by compressing an image to near about 1.5kb and then convert it into BASE64 format by following whatever you text want to place into QR code.However, you might require more than 10mp camera to fetch information from QR Code.[This is the example of Qr Code with image and text.](https://i.stack.imgur.com/aSILo.png)