Scan to Pay: QR Code payments for mobile
Fast and easy mobile payments benefit everyone. See how scanning a QR Code at checkout is changing the way we shop.
The desire to make mobile payments using QR Codes is rapidly growing as a result of the convenience and safety it offers.
No need to carry cash. No swiping. No need to remember your PIN. One simple scan is all it takes to complete a transaction these days. Whether you're making a big home purchase or splitting lunch with friends, QR Code payments are fast and hassle-free.
Why use QR Codes for mobile payments?
More speed, less stress
Waiting is the biggest no-no in shopping today. If you keep shoppers waiting too long to complete a transaction, you run the risk of turning a good purchase into a bad experience. Even luxury brands that prioritise exclusivity could be regarded as disrespectful or inefficient for keeping eager shoppers waiting. Psychologists call it the peak-end rule - where the end of an experience shapes one's overall memory of it.
Let's say that you've walked into a store and were immediately assisted by a helpful patron, who then guided you to a checkout point with a slow assistant at the counter, you may not say anything about it but you'd be reluctant to be served by the latter again, right? QR Code payments do us the favor of great service by placing more control in the shopper's hands.
No contact required
As a post-pandemic society, can you blame us for appreciating the benefit of contactless payments? You're not entering your PIN on a card machine touched by thousands, you're not holding any cash handover by someone who may have been ill. Your phone is not even touching the QR Code.
Security is tight
Most payment platforms use encryption to keep your information private and prevent unauthorized access so both the buyer and seller are safe. You'll also find that some stores generate unique QR Codes for every shopper to enhance security.
It's cost-effective
You don't need a card machine. You don't need a point-of-sale terminal. Inventory management as a business owner is virtually automatic when creating dynamic QR Codes and can be updated without reprinting. No physical invoices or receipts are needed and if you're using static QR Codes, it's free.
It's highly compatible
It may be a good idea to have other payment options available for shoppers who aren't using QR Code payments yet but most smartphones can scan a QR Code and usually, once a payment app like Venmo, SnapScan or Paypal is downloaded, you can enable your camera to scan a QR Code directly from the app.
Some game-changers in QR Code payments
PayPal
During lockdown, some brands struggled to stay afloat due to the long closing periods, some never recovered and had to close down, while others discovered PayPal contactless payments, which meant that shoppers could spend while maintaining hygiene rules. The best part is that small businesses in over 25 countries were now able to generate income with no transaction fees. Watch one Harlem business owner's story:
Starbucks
You just need your phone to grab a latte these days. Not only does Starbucks accept QR Code payments through their app, but it also integrates codes into marketing campaigns so that we learn more about new products and even score loyalty points. To increase download app downloads, they placed QR Codes on millions of in-store products and collateral.
Uber Eats
There's no need to even touch a menu, according to Uber Eats. Scan a code to browse an in-store menu and make a QR Code payment for a pick-up order. Each customer receipt includes a unique code to reduce delivery errors, and business owners do not pay a cent to generate a QR Code but rather a standard payment processing fee.
WeChat Pay
Cash payments are almost non-existent in China. WeChat Pay and AliPay have done a great job at introducing QR Code payments to every industry, from five-star restaurants to street food vendors.
Should you use static or dynamic QR Codes for mobile payments?
That depends on your business goals. If reducing costs and providing easy, fast service is at the top of your list, static QR codes are ideal. If you plan to see how customers engage with your codes - which devices they use, where they are located and which times of the day scanning is most popular, opt for dynamic QR Codes.
Our top tips for using QR Code payments
Go dynamic
These codes can be updated an unlimited number of times so you can keep the code and simply change the URL. No need to reprint collateral or recreate an elaborately designed QR Code.
Be visible
Place your code in a spot where people can see it often. Think checkout point, on menus or product packaging.
Test regularly
Even after you've tested a QR Code and shared it, test it again. If you've generated one or more with QR-Code.com, your code will never expire but we can't speak for others. Ensure that your code is working and most importantly, not redirecting to a sketchy website with unsolicited ads.
Prioritise security
Even big brands make security mistakes. Use trusted payment platforms with strict security measures to safeguard your and your customers' financial information.