What Is a QR Code Based Payment?
With the advent of QR code-based payments, customers can scan a code using their smartphone camera and make payments digitally. After scanning the code, their phone is guided to the correct page without complicated navigation or confusing links. From there, they have access to the items they want to buy along with several payment options.
QR codes are easy to use for both customers and businesses and require very little to get started—just the desire to improve business practices and streamline the payment process.
So, should your business implement QR codes? This guide will give you all the information you need to make an informed decision.
New Technology to Solve Age-Old Problems
QR codes have existed for decades but are now the most frequently used codes to scan with smartphones. They can store a lot of information in a small space and bring options into the customer’s hands.
To go more in-depth, QR codes are 2D images that can be printed on:
- Window signs
Or anywhere else that’s convenient.
New Technology to Solve Age-Old Problems
These small, square, black and white images are simple in design and elegant in function. While there are more technical details, suffice it to say that QR codes make it easier for businesses to communicate directly with their customers at the customer’s own pace.
- A restaurant patron can use a QR code to access a menu or list or services as soon as they’re ready.
- Then, they can add on additional items without flagging down a waiter.
- When the customer is ready to leave, the transaction happens without any fumbling for cash or waiting for change.
This way, it doesn’t matter if the customer is in a hurry or taking their time—the service reflects their needs.
QR Code Benefits for Businesses
Businesses have looked for a way of connecting directly with their customers while providing a safe environment for their employees. Contactless payment options through QR codes are the most effective way to pay without sacrificing any part of the dining experience.
On top of that, QR code usage among consumers has been steadily increasing—rising by 11% over the last year. QR codes are a safe and reliable method of payment for both customers and businesses alike.
Besides this obvious benefit, QR code-based payments are ideal for a business of any size for several other reasons:
- Scalability – No matter how fast your business grows, QR-based payments can grow with you.
- New opportunity at a low cost – Businesses can avoid expensive computer systems and training.
- Fast implementation – There’s no need to wait weeks or months for a new payment processing system.
Will My Customers Use QR Codes?
According to Pew Research, 85% of adults own a smartphone, which means the vast majority of adults have access to QR code scanning and payment options. With the technology already in the consumer’s pocket, businesses don’t need to invest in new POS systems to begin using QR code based payments. Instead, they can capitalize on an ever-growing market that has already taken off.
Why QR Code Payments Appeal to Customers
Sometimes, dining out is made unnecessarily complicated. Splitting a check between friends becomes a game of complicated math. Picking up carryout leads to confusion over who paid when. Sometimes, someone even forgets a wallet. QR codes make complicated things easy with lightning-fast, contact-free payment options, all at the customer’s convenience.
These days people all have a preferred method of payment and now they can have their pick. Whether using PayPal, Apple Pay, or a credit card, new options for payments are even easier with QR code payments. They can simply select the method they prefer and let the phone take care of the rest. Often, it’s not even necessary for a customer to carry a wallet to make a purchase.
QR based payments allow customers to:
- Always know how much they’re paying – There’s no confusion over the bill or what was ordered, and the server is less likely to make mistakes.
- Feel a sense of agency – Consumer choices make the customer feel in control of their dining experience.
- Be catered to directly – QR code payments allow businesses to provide their customers with personalized experiences and offers.
Imagine your service once improved with QR codes. Now, while the customer is deciding between paying the bill or ordering another drink, the server can keep their attention on providing a superb dining experience. Fewer trips back and forth means a higher quality of experience for the customer and less waiting means more customers can be served every day. GoTab’s QR code-based payments allow operators to simplify the dining experience while increasing revenue and productivity.
Cut Out The Waiting with GoTab
Order. Pay. Go. GoTab makes it that simple when it comes to QR code payments.
In the hospitality industry, speed matters. At GoTab, our goal is to eliminate the wait and let your guests cash out when they’re ready. With QR code payments there’s no more waiting for the check on the guest side. The option to close the check is always on the table.
The variety of payment options, extended safety precautions, and convenience of QR codes makes QR code-based payments a highly viable option for future-facing operators.