Credit/debit cards have made it easy to pay an amount. However, today, contactless transactions are more popular than card-based processes. You might have heard about near-field communication and radio-frequency identification technologies for contactless payments. But, quick response codes also allow you to pay an amount using your wearable device or smartphone. There is no need to have physical contact between the payment terminal and the payer. Thus, it is a fast and convenient way to make payments. Let us now discuss why QR codes are the best choice for contactless transactions.
A User-friendly Choice
Most customers have claimed that paying with QR codes is hassle-free, and ScanAvenger’s QR code scanners make it easier for businesses too. Also, modern smartphones come with advanced camera technology that automatically scans and detects QR codes. Customers do not need to install a separate mobile app to scan a QR code.
Encrypt Your Transaction For Safety
Data security is the most significant factor in the digital payment system. As QR codes ensure end-to-end encryption, financial data will be safe. When a customer scans the code to transfer the amount, the bank verifies the encrypted data. It helps with the safe transmission of payment details between the business and the customer. Direct and secure access to authentic URLs lowers the chance of getting redirected to a spam site. You can also avoid the risk of a phishing attack.
Mobile Banking Has Become Contactless
Most banks have integrated QR codes with innovative barcode readers to simplify the customer authentication procedure. It ensures an instant verification of transactions. For instance, a customer has scanned the code created on a financial app at an ATM. After interpreting the code, the barcode scanner authenticates the customer and approves the payment. There is no need to enter a PIN or use a card.
Versatility Is An Advantage
Several businesses leverage QR code-based payments in multiple ways. As a retailer, you can place them on the invoice and even menus. Many businesses even display the code on their promotional materials. Retail shops and restaurants have adopted QR codes to streamline customers’ payment process.
Future Trends In Qr Codes
Using dynamic QR codes has become a trend in the contactless payment world. Static codes cannot be modified after generation. But, dynamic ones are easy to update with new details after you have printed them. So, you can use the codes for personalized marketing and real-time data tracking.
Augmented Reality technology has also influenced the QR codes. Scan the code and access the interactive digital content. You can use the AR codes for advertising and several other purposes.
For instance, a customer in an online clothing store will have a remarkable experience if they access a digital trial room by scanning a code.
So, QR codes have transformed the way to make payments. The advanced scanners are wireless devices that are compatible with Bluetooth technology. Check the scanning capabilities and custom configuration features in the scanner before investing, and you’ll soon have a technologically advanced business.