How to Accept Payment with All in One QR Code

Choosing touch-free payment options has drawn more attention during the pandemic than ever before, with mobile phones being the most prevalent form of payment. While that happens, merchants are continuously searching for better ways to collect digital payments. They are searching for POS payment solutions that are affordable and will also improve the transaction experience. That’s where scan QR code android payments come into play.

 

What are QR Codes?

QR is an acronym for Quick Response.

A QR code is a two-dimensional code. It resembles a barcode in that it’s black and has a white background. Apart from that, both can store data, but a QR code has a much larger capacity than a barcode. Also, you need an imaging device such as a smartphone camera to read a QR code, 

The origin of QR codes goes way back to the mid-90s, launched by a Japanese company, Denso Wave, for tracking vehicles during the production and shipping processes. China was the first country to adopt QR codes outside the auto industry, which played a crucial role in stimulating the rapid growth in scan QR code android payments that followed after. Today, QR codes provide one of the most effective POS payment solutions globally.

 

Types of QR Codes

QR codes are of two types

  • Static QR Codes: Static QR codes are
    • Impossible to edit
    • Impossible to track
  • Dynamic QR Codes: Dynamic QR codes are:
    • Editable
    • Password protected
    • Secure
    • They allow data tracking

In general, dynamic QR codes provide better POS payment solutions than static QR codes.

Ways to Accept QR Code Payments 

One thing to love about QR codes is that you can scan them both ways, on paper and screen. Unlike barcodes that are only available on paper, QR codes can be generated in both print and digital form.

To enable scan QR code android payments, you need: 

  • A barcode reader that is capable of reading QR codes
  • Smartphone, tablet, or any other mobile device that has an inbuilt camera
  • You may also need to install a scan or banking app such as Pine Labs my Plutus

Now you are ready to activate QR code payments, such as axis bank debit card EMI. There are several ways you can accept scan QR code android payments in your store. The three most common ones are

Customers Scanning QR Code Using their Mobile Devices

  1. Here, the customer will first launch the camera or their preferred QR code banking app
  2. Next, they scan the code displayed on the product, paper bill, website, or at the store’s checkout.
  3. Price confirmation
  4. Tap to complete the payment process

You (the Retailer/Merchant) Scanning QR Code Displayed on Customers Phone Screen.

  1. Here, you, the retailer/merchant, will first compute the total transaction amount on your POS system.
  2. Next, the customer will open their preferred QR code banking app, which will display a code unique to their card details.
  3. Now you need to scan the QR code mentioned in the step above to complete the transaction.

App-to-App QR Code Payments

App-to-app QR code payments are, as the name suggests, payments from one app to another. There are two ways this happens: 

  • Transactions within the same banking app; when the customer uses the same app as you to pay, Ie., from myPlutus(customer) to my Plutus(merchant)
  • Transaction between two different banking apps; when a customer uses an app that is different from yours to pay, Ie., from Paytm (customer) to PayZapp(merchant)

That said, the following are steps to follow

  1. Both you and the customer will open your QR code banking apps
  2. The customer will then scan the QR code generated on your app through their own app
  3. The customer confirms the amount to pay
  4. If everything looks good, the customer taps to complete the payment process

Conclusion

These are the best ways to accept QR code payments in your store, and as you can see, they are as easy as they come.

You do not have to worry about losing your customers to your competitors through QR code payments because you can accommodate all their favorite payment options, including axis bank debit card EMI.

Other than that, QR codes are: 

  • Fast
  • Secure
  • Highly reliable
  • Easy to set up and use

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