QR Code Technology as a Viable Payment Method

The worldwide coronavirus (COVID-19) pandemic is changing the way consumers make their purchases. This is especially the case for individuals who prefer to shop via contactless payment solutions in order to help mitigate the spread of the virus.

Merchants and their customers who engage in ecommerce, for example, are using PayPal, Venmo, and Square to allow for more seamless digital transactions. Meanwhile, customers who order food online use mobile applications such as Uber Eats, SkipTheDishes and DoorDash to complete purchases without having to directly interact with restaurant equipment or employees. 

In the case of Uber Eats, for instance, users can link their credit cards to the application and make purchases with a few taps. The application also allows for its users to purchase gift cards online and insert them as a payment method.

Recently, Square launched its own Square for Restaurants platform as well, allowing business owners to more easily connect with their customers and save time. According to the official website, the tool accepts all types of payments quickly and securely no matter an individual’s location. It cites that users can be on the tableside, online, behind the counter, or even on-the-go.

Additionally, Square’s point of sale system is built for speed for both the back-end of a business and the front-end. This encompasses the capability to manage menus and courses in order to improve the efficiency of one’s team. 

When it comes to the kitchen area of restaurants, the Square for Restaurants platform also accounts for keeping employees in-sync with each other. This can be accomplished through the managing of orders on one screen and helping employees handle the rush and reduce costs via the use of digital tickets.

However, these are not the only ways to pay for and manage food orders. CVS, for example, has introduced to its customers PayPal QR code technology. Across the United States, 8,200 stores can use such technology at the checkout. According to a press release, the retailer has plans of rolling out this PayPal QR code technology in the fourth quarter of 2020.

Once the technology gets integrated within stores, customers would be able to complete their transactions in-person via either their Venmo or PayPal account balance. This would be in addition to a linked bank account or payment card. By scanning a QR code, customers would not need to present their payment card or even use a keypad to insert their information.

In terms of other platforms that are currently using QR code technology for contactless payments, they include Amazon Pay’s Smart Stores, which launched in India. By using the Amazon application, customers can simply scan a store’s QR code in order to make their purchases.

Meanwhile, Apple introduced its App Clips feature, which allows QR codes to be placed at specific locations. Users can then launch an App Clip via scanning the code using either the Camera application or Barcode reader in order to complete their task quickly.

“Whether they’re ordering take-out from a restaurant, renting a scooter, or setting up a new connected appliance for the first time, users will be able to start and finish an experience from your app in seconds,” Apple explained on its App Clip website.

As the world of technology changes alongside consumer behaviour, it is imperative that business owners adapt to new innovations and maintain a competitive edge. As a global leader in brokering merchant accounts and the ultimate resource for payment card acceptance, Merchant Broker is here to support businesses by offering them the best payment processing rates.

For further information and to get started on taking your business to the next level and the future, call 1-888-668-0733. The Merchant Broker team may also be reached via email at info@merchantbroker.com.

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