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QR codes, the ubiquitous two-dimensional barcodes that can be easily scanned with
smartphones, have become a major component of digital payment services and are set to play
an even bigger role in the future.

he scannable code system is used in many Furthermore, this process does not require any physical contact,
industries, from finance to healthcare. thus reducing the risk of contracting the coronavirus.
TBritain’s National Health System (NHS) QR codes are also not limited to online stores, as they can
has used QR codes to implement a “track and trace” easily be adapted for use at brick-and-mortar stores and any
method to deal with the spread of the coronavirus. other in-person service. Merchants only have to display a QR
People can check in at public venues without having code, either digitally or in print, at the point of payment for
to physically touch anything. customers to scan.

About 80 per cent of smartphone users in the UK and Europe Secure and temporary payment method
had used QR codes at least once, according to a survey by In the world of digital payments, transaction security is crucial.
MobileIron in September 2020. Meanwhile, 40 per cent of The temporary nature of a QR code makes it perfect for use in
respondents said they had scanned at least one QR code in the such settings.
past seven days when the survey was conducted.
QR codes can be customised to provide a one-time payment
The use of QR codes for contactless payments has also risen link that expires after use. Once a customer has made a
significantly during the pandemic. The survey found that payment, the code can no longer be used by anyone. This
customers in the UK and Europe have been relying more on prevents multiple payments and fraud.
alternative payment methods. According to the survey, 44 per
cent of customers used QR codes to pay at restaurants, 32 per When a merchant is dealing with several payment systems,
cent used them at retailers, and 26 per cent used them to buy maintaining security and privacy could be a major concern.
products in the latter part of 2020. QR codes allow all transactions to be conducted through a
centralised system with only one security guarantee.
This shows that QR codes can be widely used as an alternative
payment method in the future. Other than the fact that most Another advantage of the temporary nature of QR codes is
people are generally familiar with this system, QR codes also that they do not need to store a customer’s personal or financial
offer several other benefits. data. This prevents identity theft and the potential for fraud.

One-stop-service for contactless payments The results of MobileIron’s survey also show that 58 per cent of
Customer behaviour has become much simpler yet more consumers in the UK and Europe want to see greater adoption
complex at the same time during the pandemic. People expect of QR codes. About 67 per cent of the respondents said QR
everything to be contactless but also digitalised. Fortunately, codes have made their lives easier when it comes to transacting.
QR codes create this safe environment and offer various
features on which merchants can rely. The use of QR codes is thus expected to become increasingly
common for contactless payments after the pandemic. ••
Most importantly, a QR code can act as a one-for-all link.
Merchants can easily customise a single code to include
everything or make multiple codes for each service.
A retailer, for instance, can start a business by handing out
leaflets displaying a single QR code that can be scanned to
access a full catalogue of products. It can also be displayed on a
business card to give customers complete information about a
company.

All things considered, QR codes have the potential to become
an integral part of digital payments. All consumers have to
do to transact is scan a QR code and confirm the payment
amount. Merchants on their side of the system verify receipt
of the payment. Every payment is processed in one single
seamless system without any hassle.

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