QR Code-Based Payments Reduce Friction at Checkout

Retail shifted during the pandemic and continues to evolve as we all contend with the new normal. This includes new customer journeys like curbside pickup, dark stores that became fulfillment centers, and contactless payment methods. All of these really just accelerated the expectations of consumers. In the 2021 report, The State of the US Shopper, Forrester says 43% of US adults want more stores to support tap-to-pay or contactless payment options.  With contactless payments, more and more consumers are leveraging tap-to-pay payments with Apple, Google, or even just a typical credit card along with QR code (QRC) payments through PayPal, Venmo, Cash App, and many, many more. 

QRCs have become a preferred payment method for younger generations. These methods provide ease and speed in payment and these consumers often leverage these digital wallets for transferring money between friends and family along with paying for small business services, such as landscaping or AC repair. These payment methods have increased in popularity in North America but have been the most commonly used method in Asian countries. For a retailer, enabling simple acceptance of these payments reduces friction with the tech-savvy Gen-Z and Millennials, as well as travelers from China and other Asian countries where these payment methods are preferred.

When accepting QRC payment, the typical approach is either having the consumer scan a barcode off of a payment entry device or, what’s considered the gold standard globally, where the customer presents the QRC and the retailers scan it. The typical process is:

1. The customer is in their favorite QRC payment app such as Venmo
2. They click on “pay” and show to pay
3. The merchant then scans that secure QRC
4. A seamless interaction between the customer and associate occurs

It is really that simple. This method is also very secure. The data transmitted via a QRC is encrypted and used just at that moment. 

In JumpMind Commerce, we provide customer-presented QRC-based payments through integration to the global QRC payments leader, Pockyt. Store associates don’t have to consider which QRC wallet provider is being used. No questioning of, “Is this Venmo, WeChat, or AliPay?” They just scan any QRC wallet through JumpMind Commerce and Pockyt manages routing to the appropriate provider. When an associate is on a mobile device, they don’t even need to have a payment device with them, they can use the camera and just scan the QRC directly from the customer’s phone. 

As retailers continue the unending search for ways to eliminate friction in stores, QRC payments can provide one of the most streamlined processes to keep up with changing consumer expectations.