QR code payments are popular in some European markets and, thanks to the likes of PayPal, customers can also use this solution in the US.
But what exactly are QR code payments? How do they work, and where can you use them? Keep reading for the answers to all of these questions.
PayPal Enables QR Code Payments
In May 2020, PayPal announced that it would begin rolling out QR code payments. Part of this was in response to the COVID-19 pandemic.
In its press release, PayPal said:
However, PayPal sees QR codes as the future well beyond the pandemic. At the same time it launched in the US, the payment solution announced plans to roll out the feature in over 20 other markets—including the UK and Hong Kong.
What Exactly Is a QR Code Payment?
QR code payments allow users to pay for items without tapping their card or entering it into a reader. The feature is available both on and offline, though not every merchant offers it at the moment.
In Europe, some countries have made more extensive advancements with the solution. Sweden is one example; you can pay in many stores by scanning a code with Swish, which is an alternative payment method in the country.
Meanwhile, fellow Scandinavian nation Denmark has its own version of Swish called MobilePay. Similarly, you can pay for items in bakeries and other outlets by scanning a code.
Where Can I Pay With QR Codes?
Multiple industries accept QR code payments. In Germany, for example, you can pay for transportation tickets at Munich Airport using this option.
In the US, you can pay for items using QR code payments wherever the solution is supported. The pharmacy CVS enables transactions of this kind, as does the supermarket chain Giant Eagle.
Some online stores also accept QR code payments. However, you’ll need to check with individual ones to see where you can and cannot pay in this way. If you can’t, you can always use your PayPal account usually.
Which Payment Service Providers Offer QR Code Payments?
PayPal is one of many payment providers to get involved with offering QR code payments.
Besides PayPal, Swish, and MobilePay, Stripe is another fintech company to offer this solution to customers and merchants.
American Express has also begun offering QR code payments to its customers.
How to Pay With QR Code
To pay with a QR code, you’ll typically need to open your payment provider’s app. If they support this kind of transaction, you’ll generally find an option to scan the code in front of you.
Once you’ve scanned the code, your payment will go through—though you might need to confirm it first.
In some cases, your app will generate a code instead. Then, the cashier will scan it to move the payment through.
QR Code Payments Offer Flexibility and Convenience in Equal Measure
QR codes are one of the most convenient forms of contactless payments. All they require is a smartphone, which most people have in their hands for much of the day. Besides being fast, they are also a secure way to pay for items—whether online or offline.
As technology advances, more customers will demand these kinds of services. As such, you can expect more places that allow you to pay via QR code payments to show up in the future.
