Payment by QR code is a convenient option for both online and offline businesses.

How Can Business Accept Payments With QR Code? Main Ways

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The number of customers who paid for goods and services via QR code doubled from September 2020 to April 2021. That is why merchants should pay attention to this method of payment. 

Why is QR code popular? How does it work? In what spheres is it used most often? We will answer all these questions in the article. 

What Is a QR Code

A QR code is a two-dimensional code formed by black-and-white pixels. It encrypts information in binary format. Each pixel has its own value: 0 for white and 1 for black. The frame is a «quiet zone» that separates the code from the external space. The keys of the encoded data have duplicates. This allows the QR code to be scanned even when up to 30% of its surface is damaged. 

The code is recognized by three square marks in the corners and is read according to the instructions contained in them: from top to bottom or from right to left. Reading errors are corrected through Reed-Solomon blocks located on the edges. Synchronization strips help to read the QR code even on bumpy surfaces. 

Types of QR Codes

Depending on the possibility of editing the encoded information QR codes can be static and dynamic.  

  • In static ones the information is embedded directly, while the data address or external URL is not included in it. If a QR code is generated in this way, the information cannot be changed. When paying, a smartphone which scans the code launches a browser tab and goes to the web page with payment information or to the shopping cart. 

  • With dynamic ones, the information is embedded in a short URL and can be edited at any time after the code is created. The transaction amount here is filled in automatically, allowing vendors to generate multiple codes for different items. Dynamic codes can also collect and measure statistics for market research when scanned.  

There are two main types of QR codes: static and dynamic.

What Can QR Code Be Used For?

QR codes are used everywhere — from cafes to transportation. Here are the most popular uses. 

  • Tickets. The code confirms their authenticity, excluding the possibility of fraud. You can check a ticket by QR code with the help of a special application. A camera is pointed at the code. The scanner automatically recognizes its data and takes you to the verification page. 

  • Menu. Visitors of restaurants, cafes and other establishments can scan a QR code to open the web page of the menu. Customers can select their favorite dishes and place an order. Dynamic QR codes are usually generated for menus to change information about dishes and special offers. 

  • Tourism. Thanks to QR codes tourists learn about tourist attractions and services, book rooms in hotels, find out transportation schedules, etc. Payment pages opened with QR codes can be adapted for different devices and are available in several languages. 

  • Transportation Rentals. Available for those who have registered in the application of a carsharing company and linked a plastic card to it for debiting funds. Thanks to the QR code it is easier to launch the application and open the payment link, so you can pay for rent in a couple of clicks. Information about a particular car and its rental conditions is also contained in the QR code. 
    You can create QR codes to automatically pay for transportation rentals and view menus.

  • Loyalty cards. They can be stored in the format of a QR code in a special application on a smartphone. As a result of using such cards, the consumer receives discounts and bonuses. The bigger the reward, the more often they turn to the services of specific companies. These businesses, in turn, save money that would have to be spent on printing cards and discount coupons.  

Accepting Payment with a QR Code

You can pay using a QR code almost everywhere at any time — you don't have to be at a physical point of sale. It is enough to scan the code with the help of a smartphone. Usually a QR code is placed in three places: 

  • On the service page. This method is used by management companies when they once again issue a bill for the services provided under the contract with the owner of an apartment or a country house. Thus, the client does not need to spend time filling in the details — they can go straight to payment. 

  • On the payment/checkout page. Usually QR codes are placed here by online stores, as well as organizations offering services or selling digital content. The relationship between the consumer and the seller is governed by an offer contract, the terms of which are accepted before proceeding to payment. By scanning the QR code, the consumer can avoid wasting time entering card data. 
    Customers can scan the QR code to pay on the product's page, checkout, or at an offline point of sale.

  • Offline. This option is used when a client receives a service and goods offline, but pays for them using a QR code. It is possible to receive payments via QR code only after the consumer has agreed to the terms of service. For example, a client of a beauty salon, before signing up for a particular procedure, preliminarily studies the information about it on the booking page.  

Accepting Payments in Cryptocurrency with CryptoCloud

Using a QR code, it is possible to pay not only with a bank card and money from an e-wallet, but also with cryptocurrency. To do this, it is enough to convert the payment link into a two-dimensional code. 

Crypto payments have a number of advantages: 

  • Security. Thanks to the use of blockchain technology, all transactions are encrypted and data is protected from leaks. 

  • Speed of transactions. Due to the absence of intermediaries, the processing time of transfers is significantly reduced. 

  • No chargebacks. The irreversibility of transactions is one of the features of blockchain.  

Промоблок payments-crypto

CryptoCloud crypto processing can be used for this purpose. Among the advantages of the service stand out: 

  • commission from 0.4%;
  • free registration and connection;
  • choice of payment side of the commission of the blockchain network and the service;
  • fast withdrawal of funds;
  • work with several projects in one account. 

The platform allows merchants to create one-time and permanent payment links, which can be converted into a QR code and accept offline payments. Clicking on a permanent payment link opens a payment page where the customer can enter the required amount in USD and pay the bill. 

Thanks to the blockchain, cryptocurrency as a means of payment is popular: there is no need to waste time on going to an intermediary bank and no need to spend money on money transfer fees. International transactions take only a couple of minutes and can be made at any time regardless of the work of banks.

Payments With QR code: Convenient and Fast

With the help of QR codes it is easy to pay for goods or services. These codes are placed on the pages of services, in checkout and offline. Customers can pay the bill in a few seconds without having to enter additional data. 

CryptoCloud is a cryptocurrency payment acceptance service, one of the features of which is invoice links. These can be converted into a QR code and used to accept payments.  

Промоблок processing-crypto

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