QR codes have been around for more than two decades now. This tells us how beneficial they have been for users and customers all across the world. This invention has bestowed us with numerous benefits. Let us learn more about QR code payments and their benefits. 

Quick Response (QR) code is a digital code used to link to data/information, and the wave of QR code payment started booming after the pandemic. Nowadays, most shoppers have learned to associate scan and pay methods with everything. With the digital payment process, even small businesses can accept contactless payments from users with their smartphones.

Benefits of QR code payments:

There are a number of benefits of code payments; a few of them include:

Easy to accept touch-free payments: 

One of the most amazing benefits that QR payments have to offer is the ease of use. Most touch-free payment solutions need a payment terminal, but all you need is a printer in case of QR codes. So you can start accepting payments by just printing your QR code. Or a scanner, if you are the one who is paying the amount. 

Make the customer feel safer:

The world is still in pandemic mode, and it’s better to go for touch-free payments. Customers no need to touch surfaces like payment terminals, coins, or currency notes through the scan and pay method. This could even help merchants feel safer knowing the customers are touching their own devices.

Increase customer loyalty:

From selecting their favourite car to a nail cutter, customers are loyal to the brands they opt for. The same thing applies to their payment choices as well. If a merchant doesn’t offer the customer’s favourite payment method, there’s a chance the customer may purchase the product elsewhere. Almost one-third of customers won’t complete a purchase if QR code payment is not available.

Payments are secure:

QR code links the payment app to their account rather than storing sensitive payment data/information. The payment app encrypts the payment data; hence the payment is made without sharing any personal information like bank account number or PIN.

QR codes can also be used to:

  • Authenticate online accounts.
  • Link directly to download an application on Google Play Store or Apple App Store.
  • Send and receive payment information.
  • Access Wi-Fi by sorting the details like password, SSID, and encryption type.

How do I scan QR codes?

At present, almost every smartphone has in-built QR scanners. Here’s the procedure to scan a QR code using your smartphone:

  • Open the QR reader app on your mobile.
  • Then point it at the QR code.
  • The data/information will be shown immediately on your mobile screen.

The QR code payment technology has been around for several years, and we can see this payment approach in many places such as all types of shops, hospitals, theatres, bars/restaurants, hotels, etc. Also, there are many apps such as the fave app which provides its user a cashback offer for every payment made by scanning a QR code. Still, most people don’t know how to make payment using the scan and pay method, so it’s best to learn it now. Hope this article helps you learn the benefits of QR code payment.

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