The future never seemed more effortless than it is today. or so we thought. It looks like every day, a new invention is created, and our lives change due to its seamless solution. Nowadays, phones have features only past SCI-FI novelists dreamed about in their stories, and computers don't need a large storage room to operate. Too many examples of creations that simplify how we operate in our daily lives, and there are some inventions we tend to gloss over and take for granted for how easy they are. Just because they are easy doesn't diminish their benefits, and for the sake of this blog, it's essential to talk about QR Payment. What is it? And why is it important?
Let's get started with the basics, shall we?
First: What is QR Code
They are scannable barcodes that store data that can direct customers to landing pages, websites, social media profiles, coupons, menus, and business cards.
Its history began in Japan in 2002, and by 2008 companies were already using these codes in marketing. Despite facing many ups and downs in the mid-2010s, QR Codes usage is soaring.
360researchreports states the global QR Code Labels market size is projected to reach US$ 1268.1 million by 2026, from US$ 916.7 million in 2020, at a CAGR of 5.6% during 2021-2026.
Second: QR Payment
Beyond the QR code facilitating many things in our lives, they are many uses for it other than checking menus and visiting social media profiles faster, one of which is the payment method after purchasing goodies.
QR payment is like scanning a QR code, but instead of being directed to a landing page, the user is directed to a web payment form. Customers scan a code with their smartphone and complete the payment instantly, just like a POS terminal.
How it works
With a QR code payment, the customer uses their smartphone to scan the merchant's QR code and pay for their purchases. They then enter the required payment amount and submit it.
Once again, QR codes and QR Payment seem simple but are not helpful.
Here are the reasons why QR benefits businesses and customers
QR Payment Benefits
1- Faster payments
One of the many secrets to a business's success stems from how fast you can deliver services and be ahead of the game, but let's stick to fast delivery.
Customers have zero patients, and their worst enemy is waiting in line. With a QR code, you can accept payments from multiple customers at once, which results in the customers leaving in no time and being pleased with their experiences at your store.
2- Hassle Free
QR code payments are simple and cost-effective, as all it takes to accept payments is obtaining a smartphone, which is a typical thing to have among everyone.
3- Powerful Security
People are skeptical and wary these days, so for businesses to provide ways to give them relief, QR payment is surely a safe method that doesn't jeopardize any info about the customers.
All card details are tokenized and encrypted, so you don't need to worry about storing your customers' personal information. Payments are processed by a card network like Visa or Mastercard, which ensures a secure and stable transaction.
4- Higher reliability
There is no possibility of any error with QR code payments because they are foolproof. By incorporating unique data into the black boxes, QR code payments can be more reliable.
So after discussing the many possibilities and benefits that QR payment carries, what does it have to do with the loyalty program applied to your business?
The Appeal of QR Code Payment done by Zeal.
One of our mantras is customers and investors come first.
Customers look for easy ways to go on their day purchasing services and products without facing issues from their favorite brand. At the same time, companies do their best to ensure customers get the ultimate satisfaction. Zeal steps in to ensure both parties are more than satisfied.
Zeal allows you to accept payments 6x faster, anywhere, anytime.
With contactless QR Code Payment, you can identify customers at each transaction 6x quicker and 80% higher retention.
For more information, kindly contact us.