Why Every Business Should Offer QR Code Payments to Customers

Arguably one of the best commercials of the Super Bowl this year involved nothing but a bouncing QR code. The unique concept gained so much attention that the site crashed with so many page viewers. But how did nothing but a square on the screen get so many people to a website in a matter of seconds?
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By using a QR code, people used their smartphone cameras to scan the square which took them to the site. It seems like these QR codes are everywhere because of how many uses they have. Yet there’s one convenient option that’s gaining popularity, and that’s payment.
To understand why it’s useful to use QR code payment, you need to know what the heck this even is. You’re probably most familiar with using these codes to direct customers to your website. But they’re even more convenient than that. When these codes are used for transactions, they can work in several ways. The first involves the person scanning a code provided by your business using their phone’s preloaded camera app. This takes them to your website where they can pay what they owe. Another way to use these is with specific apps used by your business. With these platforms, the user has their own unique code. They then connect their profile to their bank account or payment card. For example, Walmart shoppers can download the retailer’s app and save their financial details to the “Walmart Pay” section. When they checkout at the store, they simply scan their QR code at the register.
These sound convenient, but there are even some easier options. With both of the methods I mentioned, there’s some extra effort involved for the business and the customer. If the QR code is linked to your website for payment, then you’d have to create a page dedicated to those transactions. For the customer, they’d still have to enter all of their payment details when they get to the site. Offering a unique code through your company app would mean that you need to integrate this functionality into the app. Or, you might need to make an app altogether if you don’t have one yet. And if the customer wanted to use this form of payment, they’d have to download your app first. The reality is that customers aren’t going to download apps of all the businesses they use.
Don’t worry: there’s still a convenient solution for both you and your customers. There are some platforms that customers can use at various locations since the app’s purpose is specifically for payment. For example, Venmo, PayPal, and Cash App all include a unique code for the user. These are commonly used for peer-to-peer payment. But now, businesses use them too. People who use these platforms connect their profiles to either their bank account or payment card. Businesses can then collect payment from them by simply scanning the user’s unique code. Or, your company can display a code that the users scan with their app. Either way, this allows your business to collect payment directly from the QR code on those platforms. These work similarly to the Walmart example I gave, but these apps are more universal since almost any company can use them.
So what’s the point of using these to collect money, versus traditional methods like swiping a credit card and paying with cash? QR codes for payment became popular during the COVID-19 pandemic. They offered a contactless method so people weren’t spreading germs by passing back cards and money. Banks began supporting options such as tapless credit cards. Almost half of consumers swapped out their top-of-wallet card for one that had tapless pay. But this isn’t an instant option for people who want to use contactless payment. They have to wait for their card to come in the mail, which in the early part of the pandemic was so delayed. QR codes offered a faster method. For many people, they could just use apps that they already had such as Venmo and PayPal. Because of its convenience, this technology has stuck. Now, people won’t worry if they forget their wallets since they can pay directly from their phones. They also don’t need to fuss with digging through their wallet or bag for their credit card. And it makes transactions faster when people can simply scan instead of going through all the prompts on a card reader.
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