Modern Ways of Implementing QR Codes in Business & Commerce

Over 4% of all online purchases in the world are conducted via QR codes¹, and we are sure to see this figure grow in the upcoming years. Already by 2025, 29% percent of mobile users across countries are forecasted to be using this payment type, with the global transaction volume expected to reach $2.7 trillion².

Such a demand for this technology drives its evolution and increases the variety of ways in which it is applied. In this overview, we will take a look at some of the modern experiences in the payment industry facilitated by QR codes and provide examples of how merchants implement them in their business operations.

Spheres of Application of Different QR Code Types

There are different types of QR codes, and each of them proves to be useful in business and commerce. Below, you’ll find information on some interesting use cases of QR code variations:

1. Static QR Codes

The most common QR code type used for payment transactions is the static one. Such QR codes have an embedded URL with a fixed destination that can’t be updated. You will often see them used as a payment option offered by:

• Restaurants and cafes
• Taxis
• Brick-and-mortar retail stores
• Street vendors

Apart from being implemented as a method of accepting payments, static QR codes can also be utilized for:

• Providing Wi-Fi access. Static QR codes can often be found in hotels and cafes where their role is to redirect clients to the authorization page for entering the Wi-Fi network.
• Offering detailed product information. Some merchants embed static QR codes into the product packaging so that the consumers could check the items’ authenticity and get additional details that otherwise would have not fit on the label.
• Explaining more about events. Festivals, concerts, and other events nowadays usually implement outdoor posters and online banners with static QR codes. Upon scanning, the user typically gets redirected to a page with event details and payment options.
• Creating minimalistic business cards. Merchants often choose to print out cards that provide brief information about the business for the clients. Static QR codes relieve them from the need to try to fit in too many details in a limited space.
• Listing menu items. Cafes and restaurants widely adopted the practice of replacing paper menus with QR codes during the COVID-19 outbreak, and this trend lives on even in post-pandemic times.

As you can see, there are plenty of ways to implement static QR codes in business and commerce. However, it’s crucial to remember that such QR codes are fairly easy for criminals to replace with fraudulent ones. If merchants choose to offer this payment option, they should continuously monitor it to ensure that their customers’ data and funds are safe.

2. Dynamic QR Codes

Just like their static counterparts, dynamic QR codes feature a link and take users to a page with certain information. However, what makes them "dynamic" is the fact that the link they contain redirects the customers to yet another URL that can be edited as many times as needed.

Some benefits of dynamic QR codes are:

• Higher scanning speed compared to static QR codes
• Trackable scans
• Unlimited reusability

Due to these advantages, these QR codes can be used as a convenient payment method in all types of merchant establishments. Apart from being an efficient and secure option to accept purchases at the counter, dynamic QR codes serve businesses in other ways, such as:

• BOPIS authentication. The buy online, pick up in-store shopping option has been steadily gaining traction since the beginning of the pandemic. Dynamic QR codes are perfect for consumers to show at brick-and-mortar locations when they arrive to retrieve their orders.
• Self-service store identification. When a customer enters a grab-and-go store, they usually have to scan a dynamic QR code that will register their personal information and payment details and grant them access to the shop. Once the client is done shopping, they can exit the store, and their account will be charged automatically.
• Ticket generation. A lot of transportation companies nowadays use dynamic QR codes to provide their customers with tickets that are immune to being duplicated. The same applies to gym passes, concert entrance tickets, and so on.
• Implementation of coupon codes. Dynamic QR codes are also extremely useful when it comes to loyalty programs and seasonal coupons, helping merchants boost consumer loyalty and drive conversions.

Dynamic QR codes are more advanced and secure compared to static ones and thus are preferable for commercial use.

3. Consumer-Presented QR Codes

Once a merchant scans a consumer-presented QR code, they can request a payment from the customer. The client then reviews the amount and approves the withdrawal of funds.

At the moment, this payment option is in fairly early stages of development, so there is a limited number of vendors who offer it. Some examples of merchants that deal with consumer-generated QR codes are:

• CVS
• Walmart
• 7-Eleven

PayPal’s “Show to Pay” is one of the most well-known tech solutions used to enable consumers to generate QR codes to conduct purchases.

All in all, it is an easy-to-integrate, simple, and secure option that diversifies the variety of payment methods for consumers and enhances their shopping experience.

Ready to Make the Most Out of QR Codes?

As the popularity of QR codes continues to grow, more creative ways of implementing them in business and commerce are sure to arise in the foreseeable future. Thus, it’s important for both merchants and consumers to remain agile and adapt to these changes timely.

If you still haven’t introduced QR codes into your operations, we hope that the use cases and examples listed above have provided you with ideas on how to apply this technology, accept payments efficiently, and ensure top customer service.

^{1, 2} - Scanova - QR Code Statistics 2022: Up-To-Date Numbers On Global QR Code Usage