Expanding use of QR Codes for making payments for items
Things are continuing to evolve for QR Codes as their use migrates into other areas for usage beyond some of the original intent for QR Codes. The usage as a means of advertising and promoting a product are moving beyond that to now becoming mainstream to handle just about any other option one can think of. The idea of using a QR Code as a payment mechanism is not something which might come to mind, but that is exactly what has evolved from the funny looking square boxes.
We have seen increasing acceptance around the world, particularly in Asia where they embrace technology far faster than we do here in the US. But now, that acceptance of using QR Codes to purchase items and even have them delivered to your home is on the rise. One of those companies offering the ability to make your purchase via a QR Code is LevelUp.com who is providing services to mobile device users.
The process is fairly simple and requires that both the customer and the business owner to use the LevelUp services to complete the transaction. The process is pretty straight forward. You download the app to your Android or iOS mobile phone and then link a credit or debit card to it. You then can pay for purchases at mobile trucks by having them scan the QR Code which is displayed on your smart phone. You can even get notification when you are in the area of a food truck that accepts the QR Code payments.
In another example, Procter and Gamble (P&G) have created mobile trucks called “@PGMobile Trucks” where you can purchase products using QR Codes. This is a test project between Walmart and P&G to see how readily consumers are to accept purchasing products and having them shipped to your home from roving trucks in New York City. Each product item, which is shown on the outside of the truck, has QR Code associated with it. You can scan the QR Codes to collect the items you want to purchase and then check out. If you purchase at least $45 worth of products, there is no delivery charge to have them delivered to your home. Pretty good deal.
And there is even more. PayDragon is another company which is handling the food trucks in Los Angeles with the use of QR Codes. For those food trucks which sign up with PayDagon, they can offer their customers the ability to order their food by scanning a QR Code to make their selections. This lets them skip the lines to order and they can also pay for their food at the same time as placing the order. This moves them to the pick up window and bypasses the typical waits to place an order.
QR Code usage is catching on and numbers are starting to come out for demographics. In the 25 to 34 age group, they have the highest scanning rate using QR Codes. That age group is also the same one which is purchasing and using smart phones in a variety of ways, including QR Codes to make purchases. The growth for QR Codes is going to continue to grow and at the moment it is growing far faster than most people are aware of.
A Mobio study shows that QR codes usage is growing at an exponential rate with an over 4,500 percent increase in Quick Response code usage since December of 2011.
We expect to see these kinds of partnerships continue because of the huge profits which can be made by the companies which are accepting QR Codes as a method to make payments. The whole are of mobile wallet is going to be exploding this year and continuing into next year as business see the growing acceptance of people making purchases with their smart phones.