Why QR Code Payment Gradually Gain Popularity Across The World?

Burma planned to launch national standard QR code MMQR recently after Japan issued its unified QR code JPQR. As more and more countries issue policies to promote QR code payment development, it is expected to become one of the global popular payment methods.

Why QR code payment will gain more popularity during the epidemic? And how did QR code payment become popular step by step? If we want to know something of it, we should start with its development resistance and advantages.

To begin with, people should take it in mind that credit card payment will be badly impacted once QR code payment widely use to a certain extent. This condition will further affect the interest of relevant banks, consortiums and enterprises, which are the strong financial sources in the country. Without national policy support, merchants are unwilling to input much sunk costs to promote QR code payment. Importantly,

If not capital and technology input to optimize consumer experience, consumer won’t easily change payment habit and accept new payment method. Under such circumstance, it will be difficult to stimulate market to further promote QR code payment development.

However, QR code payment has attracted people's attention due to its contactless, safe and convenient features affected by the epidemic. People gradually realize that QR code payment potential advantages will help country, banks and merchants gain more benefits.

It is reported that the popularity of QR code payment can accelerate cashless society progress. Cashless transaction can help banks improve business efficiency, cut costs, reduce the number of counter staffs and ATM machines. Furthermore, QR code payment can benefit banks to develop commercial business. Treated QR code payment as a link, banks can use big data technology to deeply explore business condition and financing demand of small and medium-sized businesses. And then, they could provide comprehensive financial services such as credit financing, deposit financing, electronic banking and payroll credit

 

Benefiting from national policy support and UnionPay standard QR code promotion, the pain point of consumer payment experience like micropayment and large payment can be solved while using QR code payment. It is convenient for customers to complete payment by scanning QR code or displaying QR code. For retail stores, convenience stores and other payment scenarios, it is conductive to cultivate consumers’ payment habits, improve their stickiness, and even reduce the burden to introduce franchise stores.

In order to better promote the development of QR code payment, Telpo has also launched a series of QR code payment products, covering QR code scanner, mobile handheld payment terminal, EFT-POS device, bus validator and so on, which can fully satisfy whole consumption scene payment requirement.

With exquisite appearance, high-end configuration and super performance, Telpo QR code payment products are good for cultivating consumers QR code payment habits, enhancing their payment stickiness and further stimulate secondary consumption.

Take QR code payment as an opportunity to connect online payment and offline payment scene, better promote cashless society progress and development.