“Industry experts had been wondering for months leading into summer 2021 when prevalent vaccinations were expected to drive a resurgence in on-premises dining what the fate of all those QR codes would be.
But it quickly became clear that QR codes, a somewhat forced adaptation during the pandemic, had enough benefits for both restaurants and customers that they are here to stay.”
In addition, retailers and restaurants used QR codes for digital menus and contactless payment alternatives to reduce physical contact between staff and customers during the COVID-19 pandemic.
In recent years, prominent payment providers such as PayPal have begun to use QR codes at the point of sale as a touch-free, cash-free payment option.
Moreover, according to Juniper research, the global spending on QR code payments would exceed $3 trillion by 2025, an up from $2.4 trillion last year.
The increased focus on enhancing financial inclusion in developing nations and giving alternatives to traditional payment methods will fuel the 25% increase.
Two ways how QR codes for payment work
We can use QR codes for various things, but how are they employed in payments? Are they significant?
It’s a contactless payment mechanism that allows consumers to pay simply by scanning a QR code with their smartphone.
Here are examples of how to make payments with QR codes:
App-to-app payment method
With the utilization of QR codes, online payment or e-payment systems such as PayPal implement different initiatives to enhance the approach business is done online by incorporating QR codes, enabling cashless and contactless activities even more fascinating.
PayPal altered its online payment processing pricing a few years ago, affecting both new and existing merchants.
PayPal Zettle, PayPal’s mobile POS app, may be used to accept in-person PayPal and Venmo QR code payments at your business.
Because it immediately syncs with your business PayPal account, PayPal Here is a terrific mobile POS for PayPal merchants who also sell in person.
You don’t have to be a PayPal seller to take advantage of PayPal Here’s a convenient and user-friendly POS. It’s also free to use, with no monthly software fees; all transactions, including credit card and QR code payments, are charged a flat 2.7% fee.
“Zettle by PayPal is a Swedish financial technology company founded by Jacob de Geer and Magnus Nilsson in April 2010, and is now owned by PayPal.”
URL QR Code for payment
Businesses can use payment links to sell a product or service, establish a subscription, or receive donations.
When a payment link is embedded in a URL QR code, it can be utilized as a gateway to contactless payment.
For example, you can create your own PayPal.Me link with your selected username, which you can send to your consumers by email, text message, or embed on your website and social media platforms.
You can then turn your Paypal.Me link into a QR code that will allow your customers to pay you via scanning the QR code.
Donation Point Go was also intended to make receiving donations faster and easier. It uses QR code technology to provide immediate access to the online donation campaign for potential donors.
Real-life examples of a QR code being used as a payment method
One of the largest retailers was an early adopter of self-checkout technology, and they’ve been cranking it up ever since.
Customers can now scan and pack their goods at one of the store’s self-service registers, then pay by scanning the QR code provided with their smartphone using the Walmart barcode scanner at checkout and the Walmart Pay app.
Walmart also prints QR codes on receipts that price-match your purchases with those of other local companies, generating a cashback-like amount that may be redeemed at Walmart at a later date for the thrifty shopper.
Customers can save 5% on purchases when using their Capital OneTM Walmart RewardsTM card, which connects the QR code payment option to Walmart’s larger omnichannel strategy.
Donation Point Go
Donation Point Go was intended to make receiving donations faster and easier.
It uses QR code technology to provide immediate access to the online donation campaign for potential donors.
The one-of-a-kind QR code can be included in your campaign and used in various places, including mailers, posters, tickets, newspapers, magazines, billboards, and more.
When contributors come across your campaign, they can scan the QR code with their smartphone to be redirected to a campaign webpage tailored to your campaign’s needs.
Your donor can now make a payment to your campaign with a credit card or e-wallet that they already have on their phone with just one tap.
No additional apps are needed, and it works on all modern devices.
Amazon Go is a convenience store business owned and operated by Amazon in the United States and the United Kingdom.
They employed QR codes to allow clients to get their purchases in-store without having to wait in long lineups.
With a simple QR code scan on their smartphone devices, users can also compare items and read reviews.
Benefits of QR code for payment for a cashless transaction
You can make payments safer by using QR codes.
During the COVID-19 pandemic, everyone was concerned about their safety.
By avoiding touch, QR codes help to protect customers and employees.
Buyers can scan a code and pay their bills instantly from their mobile devices.
Staff at restaurants and stores no longer have to handle credit cards or cash, and servers will receive contactless tips from customers.
It can be displayed in online settings like Livestream, social media, and websites.
People may now find QR codes almost anywhere. It can be uploaded to the internet, flashed during a Livestream, shared on social media, and even displayed on websites!
That being said, QR codes are adaptable in the sense that they may be used for various purposes other than payments.
Can be placed on print materials
Use QR codes in print adverts to run a successful printed marketing campaign.
You will give more information and exciting marketing materials to the audience by incorporating a QR code into your printed campaign.
QR codes were created as a digital tool to embed information and are generated using an online QR code generator.
Furthermore, QR codes can be utilized for contactless payments, allowing scanners to order and pay using the QR code on your printed materials.
How to scan a QR code
A QR code can be scanned in a variety of ways. Stated below are some of the instructions on how.
QR codes can be scanned using your Android device.
QR codes are typically used to browse a website to learn more about a specific subject.
They need to scan the code with a QR code reader to be directed to a landing page that displays the data that the user has inserted.
In most cases, Android devices include a built-in QR code scanner. Android versions 8 and 9 are capable of scanning QR codes without using an app.
Some earlier Android versions, on the other hand, have yet to receive the most current update.
To see if your smartphone device can scan QR codes natively, follow these steps:
Open your camera program.
For 2-3 seconds, point it at the QR code.
Click the notification that displays to view the content.
Check the camera settings to see whether QR code scanning is possible if nothing else works. If you don’t see one, your Android phone doesn’t have a QR code option. As a result, you’ll have to use third-party apps to read or decode QR codes.
If your Android device has a QR code scanner, pointing the camera at the code will cause a pop-up notification to appear on the screen.
By clicking on a QR code, you can view its contents.