These days, QR codes are a fairly common part of the payment processing landscape. Their rise in popularity is a result of many factors, but may owe the most to the surge of digital payment technologies. With almost everyone owning a mobile phone, QR code payments have turned out to provide an ideal combination of speed, security, and simplicity.

Not convinced your business would benefit from implementing QR code payments? Here’s a quick guide on what these payments are, how they work, and why you need them.

What Are QR Codes in Payments?

The QR code (short for Quick Response code) is a two-dimensional barcode that stores data as a series of pixels. Scanning a QR code allows you to do a variety of transaction types, from paying for a product to signing up for a subscription.

The main use case of QR codes in payments is to request a payment from a customer. This can involve initiating a request from the customer’s payment app or opening a payment page in the customer’s web browser. In either case, you don’t need to invest in extra hardware; all you have to do to accept QR code payments is to set them up on your phone.

How Does a QR Code Payment Work?

The first step in accepting QR code payments is deciding which data they should include and how they should fit into the customer’s payment flow. For example, if you set up your QR code to lead to a web payment page, you can configure that page to look however you want. It’s often best to integrate it with your website so that it has the look and feel of your brand.

Once your customer scans the QR code, they’ll get a notification. What happens then will depend on your payment flow. In most cases, they’ll need to open a specific app or choose their payment method, but some QR codes can also process transactions instantly.

Benefits of QR Code Payments

Using QR code payments comes with many benefits for businesses. Examples include:

• Simple payment experience: Using a QR code is much faster than the traditional method of swiping a card and entering a PIN code. This results in more conversions, more revenue, and happier customers.
• Low equipment costs: QR codes don’t require any specialized equipment. In most cases, all you need is to download and set up an app, making it easy to roll out online or across several in-person locations.
• Improved security: All payment data is encrypted, so there’s no need to store personal information from your customers. This can lower your payment compliance liability.
• Easy data collection: Since your customers are paying with phones, you can ask for their phone numbers or email addresses. This can help with opt-in marketing.

Curious about implementing QR code payments in your business? We’re here to help. Our team can walk you through the process, answer your questions, and show you how to make the most of this technology. No pressure, no jargon – just practical advice to help you decide if it’s right for you.

Give us a call at (805) 418 -7595! Let’s explore how QR codes could simplify your payment process and improve customer experience.