Payment, QR, QR Codes, Shopping
In today’s age, everyone knows about QR code payments. We are all well aware of the emblematic black and white square design of a QR code. Growing smartphone penetration and high-speed internet access have led to the widespread adoption of QR codes. Hence, today we see it pretty much everywhere, whether it’s shopping, movies, advertising, and so on.
QR codes are widely used in China, Asian countries, the United States, UK, Saudi Arabia, Australia, and Canada. The widespread use of the QR code in sectors like marketing, education, payments, and healthcare has made it an in-demand technology. The retail sector is no exception. Retailers use QR codes in several ways.
Here’s a list of the top ten retailers that used QR Codes for in-Store payments in 2021.
Walmart, United States’ largest retailer, was an early adopter of self-checkout technology. The company launched Walmart Pay in 2015. This functionality enabled customers to make payments by scanning a QR Code. Users linked their primary credit or debit cards to their Walmart mobile payment application.
Scanning a QR code charged the amount invoiced to the card associated with the application. It saved users and Walmart the surcharge charged by credit card companies and Apple Pay.
In addition, for the thrifty shopper, Walmart also prints QR codes on receipts that correspond to your purchases from other local retailers.
This creates a cashback-like balance that can be redeemed on Walmart at a later date. The QR code payment option is also part of Walmart’s broad omni-channel strategy by connecting to its Capital One™ WalmartRewards™ Card to save 5% on purchases.
Target also announced the introduction of a QR Code payment system in its stores in 2015. In 2021, the Target app combined Wallet-like features with contactless shopping, pickup, and promotions to bring all digital and physical experiences under one roof. With the help of Target pay, consumers can make payments for products by simply scanning the target QR code.
Dollar General is a fast growing brick-and-mortar retailer with several expansions planned in the near future. A part of the planned expansion includes a new scanning and departure system. This system allows clients to scan objects with their smartphones through the Dollar General app. At checkout, shoppers can simply pay by scanning a QR code.
Amazon launched an Amazon Go retail store in 2016, using “state-of-the-art shopping technology”. The store is built around what Amazon calls an out-of-the-box technology. The cutting-edge technology enables users to walk into the store, pick the items they need and simply exit. The in-store sensors do the heavy major work of tracking items in the cart at checkout.
When entering a store, users have to scan a QR Code using the Amazon Go mobile money payment solution on their smartphone at check-in. The purchase price is deducted directly from a user’s Amazon account.
The coffee giant is utilizing QR codes for payment but with a major difference from other companies. Consumers pay with Starbucks cards which later reward them with free drinks. In 2018 the Starbucks app accounted for 12% of the retailer’s US transactions. Within a span of 2 years, Starbucks mobile orders boomed to 25% of all sales.
To execute and deliver the best in class customer experience and aid employees by streamlining the beverage-making process Starbucks has shown confidence that its mobile ordering is the way to go.
Best Buy is another retailer that has introduced QR code payments. Best Buy provides customers with special credit card benefits while making the whole process simple. Carrying a credit card is unnecessary. Customers simply need to show their app to a store employee while paying through the single scan process.
The international chain of convenience stores of Japanese and American joint ventures has also integrated a mobile check-out system. The 7-Eleven app employs a QR code system that allows customers to quickly scan products and then pay for them using a digital wallet at a “confirmation station,” as 7-Eleven refers to it.
Zara has even introduced QR codes in storefront windows to promote and advertise its brand to passersbys! People enjoy strolling through malls, and adding a QR Code to your store window could completely transform the concept of window shopping by allowing customers to scan your store’s sale items!
One of India’s largest grocery, electronic, and fashion stores has also been influenced by the top digital payment trends using QR code technology. UsingBig Bazar’s app, customers can scan codes and place their online orders. One very unique feature offered by the Big Bazar app allows customers to redeem their wallet balance directly during checkout by QR code scan.
Paytm’s e-marketplace, Paytm mall, has also deployed a new functionality that enables customers to place online orders in physical stores using QR codes. Customers can visit the nearest Paytm partner store and scan QR codes using the Paytm app to browse and order products. This feature has helped retailers to sell products online without having to worry about inventory management and delivery of the product.
QR Code Payments provide ease, safety, and hygiene benefits to millions of consumers. By adopting QR code-based payments, retailers across the country are pushing for scan-to-pay adoption as a familiar and accessible payment method for shoppers.
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