Home Point of Sale Mobile Payments: To QR Codes and Beyond

Mobile Payments: To QR Codes and Beyond

by Samantha Kalany

Estimated reading time: 2 minutes

QR Codes are everywhere we look, especially nowadays. These two-dimensional barcodes are simple to print and display on physical stickers, signs, surfaces and even the screen of your mobile device. Many individuals are patrons of businesses who have crafted out their very own digital membership programs, where QR codes hold a popularity as well. Now the mobile payments industry is diving into the world of 2-D scanning with QR Codes, and how they are disrupting the retail, both online and offline.

QR at the Checkout Line

At their start, Quick Response codes were formed to track parcel vehicles during the manufacturing processes, because these codes can store more data than their former, linear barcodes. The technology behind QR Codes provides a seamless integration process for many industries, especially within the final payment steps. Used for all types of transactions, they work increasingly well alongside smart phones and mobile devices.Mobile Payments

When it comes to mobile payments, individuals are constantly on the move, trying to keep up with the ever-evolving trends. Mobile Wallet seem to be here to stick around, for who carries cash or cards around with them anymore?

Let’s say a customer is pulling through the Starbucks’ drive-thru lane to purchase their favorite Autumn-inspired beverage, they could save both themself and the line behind them on time and efficiency, by pulling out their mobile phone for a quick scan-and-go, to collect their purchase. The speed of the transaction is cut in half, especially when loyalty program points and pre-ordering features are factored into the equation.

QR Codes: A Retailer’s Best Bud

On the retailer’s end of things, QR codes are growing in popularity as well. Store associates can better sift through the mountains of inventory when an online order comes in through their website. QR codes can also help managers track their customer base and read upon items that are flying off of shelves and those that aren’t. Businesses are setting up membership programs, rewarding customers when they purchase products to push towards a larger goal. Mobile Payments

These codes can be largely programmed into point of sale hardware, to collect valuable data. In this nature, merchants can study buying habits and ultimately strengthen overall marketing messages to reel those customers back into the storefront. Larger department stores have put out coupons and discount codes within these 2D codes as well. This makes it easy for customers to download them straight to their phones and have it ready at the checkout counter. Say goodbye to fumbling through coupon folders and cluttered purses.

Quite simply, QR codes are assisting every party involved. It is predicted that as time goes on, more and more merchants will add these advanced barcodes to their business plans along with more groundbreaking use-cases.

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