How QR Codes Are Changing the Way We Pay?

A QR code has come a long way from redirecting the customers to a website to taking them to a payment gateway. These days the most common use of a QR code is making payments. After the life-changing events like demonetization and the pandemic, people needed a way to make cashless and contactless payments. During that time, the QR code payment got its due share of popularity as everybody started to switch to this method. The brands gave the scan and pay options, and the customers liked it for the perks it gave them. 

The growth and transition from cash payments to QR were so quick that seeing a QR code at the payment counters is a common sight now. From brand-exclusive stores to street vendors, everyone offers a choice to pay online using a QR. So let us dig deeper and understand how it has changed the market and how we make payments. 

A Contactless Approach

The unique selling point of this payment mode is its touch-free approach. As hygiene became a top priority, people needed the payment option in which they do not have to come in contact with a third person. However, where cash included a direct touch, even the card payments were not fully contactless. That is where the QR codes helped and emerged as a fully-contactless mode of payment that ensured 100% safety. 

Future Ready Framework

It is a concept made with a futuristic vision. Due to busy schedules, people often shop online, and keeping cash has become a thing of the past. COVID fueled the trend and drew the buyers more towards online shopping. QR codes catered to that market pretty well by letting people shop and pay online. Many brands keep their product information in the QR. Every time you want to buy something, they share the code, scanning which you can find out every detail. Moreover, some apps have multiple brands listed on them and let the customers buy from any of these and pay through their QR codes. Hence, it is fair to say that QR code payment is a futuristic vision and will grow along with the market. 

Customer Perks

The best part about scan and pay is the customer benefits it offers. Anyone paying online stands a chance to avail of the cashback offers or deals that brands run exclusively for the customers who pay through a specific QR code. Moreover, if a customer makes repetitive payments through the same cashback app, the value of discounts or cash back increase, making their total discount value significant enough to save a lot of money.

Ease of Use

The process of paying through a QR code is simple. Anyone can do it conveniently without any formal training or assistance. A customer only needs a scanner and the code through which they can pay. The moment they scan the QR, it redirects them to the payment gateway from where they can complete the transaction and pay online. The best part is that the payment reflects in the receiver’s account within seconds, without delay! 

The QR code payment option has brought plethoras of changes in the market and buyer behavior. It has given a buyer the ease and convenience of making payments without coming in direct contact with others. Moreover, it is also a perfect option for businesses to explore new horizons for business growth. There are plenty of perks that this payment model has to offer. The users only need to be careful about the codes they scan and the app they use to scan them. Do not scan a malicious QR coming from a random third party, and stay vigilant during the entire payment process to enjoy a seamless experience.

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