What makes QR Codes the Future of Payments!


Undoubtablely, the global pandemic of Covid-19 has brought sudden changes in the flow of the world. From remote working, digital dependency for every sector to contactless payment modes like QR Code. Thus, resulting in an unexpected hike in the digital growth of the nations.
And one of the most preferred modes for transactions used worldwide is the QR code. That is the ‘Quick response’ code for processing payments. In other words, it is a 2D black blocks pattern on a white background that has encoded details of the payment address and amounts. And can be scanned by mobile using the payment app to decode the information and process the payments.
Although it was a Japanese initiative back in 1994, introducer the company named Denso for the automotive industry. Today nearly about 27 years later, we observe a wide implementation of QR codes. Namely the USA, UK, India, South Korea, prominently China. And other countries like Norway, Denmark, Sweden, Canada, and Australia.
Furthermore, the statical analysts say that by the next 5 years from 2020 there would be a hike of about 30% in the QR code payment adoption by the nations.

QR code payment in Brief:

QR code for payment is similar to the other QR codes. They hold the details of a particular commodity. For instance, an inventory has QR codes or barcodes with data of the items stashed inside. But QR payment code is a bit different and holds a lot more information in comparison. Also, more secure and reliable in comparison.
When you scan the checkered image with a device, it takes you to a web payment page. This page has the readable details of the payment. And with the help of digital payment apps processed to complete the payment. For example, Paypal, GooglePay, Bharatpe, ApplePay, Alipay, or Online Bank applications.

How does QR Code works?

Scanning the black and white box formation with a compatible app unfolds the details to complete the payment. Also, the code can be captured vertically or horizontally. And has a faster scanning time. Moreover, the code is not limited to the black part but includes the white space surrounding it, called the quiet zone. That helps the scanner to identify the end of the code.


To better understand the method of QR payment, one can rely upon the following steps:

Generate QR code

Use the payment app of your choice with your card provider or bank account integrated. In order to, can get a code for the payment as required.

Display the code

Once the code is ready, it gets displayed on-screen or printed for the other person to scan. Then after, process the payment using the scanner.

Scan the QR code

Now, scan the code with the help of the recipient smartphone who has to make the payment. For instance, the payment app scanner or mobile camera directs the scanned code for the apps or website. And complete the transaction on the site or app.

Payment complete update

Once the payment gets processed, the amount gets added to current balance of the account. Similarly, the amount gets deducted from the recipient’s account. And the payment completion notification pops up on the screen.


Scan the QR Code

Generate QR Code

        Display the Code

       Scan the QR Code

Payment complete update

Types of QR Code payments:


There are four types of QR payment codes:


This code only holds the details of an individual digital payment account, and it’s reusable. Thus, every time payment has to be made you, can scan this code to pay. And a required amount needs to be entered by the payer to send the money. For example, the street vendors and retail store owners have this type of code. They have displayed it on the counter for all the payments.
QR code mobile phone shopping


The payment details get addressed with the particular amount encoded in the code for every payment requirement. So, once scanned, this code is disposable. The Petrol pumps and the Food outlets provide this type of code to their consumers to make the transactions.


It is a reverse kind of method, where the payer generates the code for the seller to scan and enter the amount as the requirement. And gets deducted from the payer’s account. Once the seller enters the amount, the payer bank receives the payment request. Then after with final approval from the payer it completes the transfer.

Merchant generated

The seller creates a QR code for the product he sells for the consumer to scan and pay to complete the purchase. It can be static or dynamic based upon the industry of the business.

Benefits of using the QR code payment:

According to the current banking trends of 2021, they are visibly biased to the digital contactless modes of payment. There are many advantages to adopting this trend using QR code payment methods.


This tops the chart of advantages, as the transactions charges by the payment gateway provider are way lesser or free for QR code-based payment. And it has some extra benefits associated if the merchant uses this purchase mode for certain frequent transactions or exceeds a set amount for the payable fund.

Easy implementation

It does not require any third device or site to generate or use the QR code. Everything gets done in the same space on the smartphone. And any individual can create a unique QR ID for personal or commercial use.

Faster mode of transaction

Several third-party integrations are not needed to process the flow of funds. The average time to complete the single payment is hardly 1-3 seconds.

High accessibility

Any individual who owns a smartphone and a banking app can use QR code payment methods.


To make a transfer, one only needs to scan the QR code. Also, there is no need to add any bank account details or cards details. Thus, make the data safe from any potential thefts.

Better control overpayment

Even after the QR code gets scanned, the payment is not complete without the final approval of the payer. Also, the OR code shows the details of the receiver’s ID so the payer can confirm the transfer will get directed to them only.

How QR code dominates the current world of online payments?

QR codes are one of the core payment methods used today for online transactions. As per the recent report by a Mobile industry giant, the Chinese landscape had surfaced as a global dominator for using QR payment. And accounts for nearly 44% of its market transactions are with QR codes. And using popular payment apps like Alipay and WeChatPay in 2020.
Moreover, other Asian countries like India, South Korea, and Japan have about 700 million users adapted to QR code payments methods.

Further, regions with underdeveloped financial services but a considerably higher number of smartphone users have also shown a significant rise. And growth in QR digital payment usage. For instance, countries like Africa, Latin America, the Middle East, and Southeast Asian countries.
The West is more inclined to the PoS payment infrastructure and relies on other online payment methods and credit cards. And has an increase of 7% pre-pandemic to about 15-18 % increase post-pandemic. The European countries showed 5-10 % of height in its chart.
Companies like Paypal, Visa, and Mastercards coming up with new solutions to stay up with QR trends has also fueled the rise.

The Future insights:

The year 2020, recognized as a QR payment-dominated year for digital payment. But does that signify the game will remain dominated by the QR code payment?
According to the year 2020 charts of Statista, for the forecasts of the 2025 year trends of QR code transactions. The charts unfold an inclined trend in the growth of Markets using the QR payment across the nations.
Thus, several reasons will support the path to carve out opportunities for QR trends. And can provide the markets a tool to have customized, secure, rapid mode of payment seamlessly without any contact.


In addition, we can even see the governmental and business giants working more swiftly towards promoting digital transactions. And QR payment modes to have a better market environment for both merchants and customers.
With digital solutions at Esurgent, we can help you develop a payment mode of your choice. And integrate with your business site/ mobile app to receive the payments directly from your customers.

For more details, connect with us now.

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