Pay Via QR Code: The new future for businesses

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QR codes or the Quick response codes are not new to us. These are very commonly used codes and can be found in places like shopping malls, movie theatres etc. With the continuously evolving payment gateways and mobile wallets the use of QR codes have become more pronounced.

Before QR codes appeared, we were used to seeing barcodes which are known store all information about the product. Unlike the regular barcodes, QR codes can store information in two dimensions. Thus, QR codes appear as pixelate black and white squares each with a unique pattern. The two-dimensional information storage format of QR codes make information uniform and easy to access.

In the recent years QR codes have experienced huge response in the market. It has experienced the fastest implementation from among all other payment methods. Coming across a QR code today is not a big deal. From advertisements to invitations, QR codes are everywhere. Then why not in payments? Yes, QR codes are now into payments too making them simpler and easier than ever. Now, there is no need to swipe your credit/ debit card every time you purchase something. The main reason why paying via QR code is its unbeatable benefits which solves almost all online payment issues like time and security.

The benefits of paying via QR code are:

1. 1.No requirement of any special equipment as almost all phones have QR scanner installations in them. Even is they do not, QR scanners are available for download in the play store.

1. 2.Quick and easy to use. It does not involve entering or typing any kind of information and thus the QR code payment system is easy to use.

1. 3.It increases safety of your money by helping you go cashless. A wallet full of cash can be easily stolen and used. But all essential payment details stored in the phone cannot be stolen or accessed easily.

The main reason why QR codes are becoming increasingly popular among companies and customers is that it does not require any extra machinery or equipment for installation and use. The QR code makers and scanners and widely available on the web today. The best part is, they can be used for free. Besides, there are many QR code payment apps available for download. All popular applications like PayTm, PayPal, Phone Pe, Google pay etc. have implemented QR code payment system.

Many popular companies today use the paying via QR code method for accepting payments. Be it the popular Starbucks or your favorite shopping mall QR code payment system can be found everywhere. Even local shops have started using the QR codes payment apps.

Evidently, with so many companies implementing QR code payment system, the pay via qr code is going to be the next big revolution in the payment methods. With the huge response it has received in a small span, the use of qr code payment apps is expected to reach 150 million by the end of 2020. QR code payment system is truly the next generation payment method.

Lisa is contributor who has a detailed knowledge about the digital world. she loves technology and so invests herself to learn and critic about the products, sites, and gadgets which see the light of day.