Title : How QR code payment system is giving more power to the Fintech industry While looking ahead to 2022, it’s important to note the top digital payment trends of previous years, and the adoption of these trends has already changed your customer's behavior dramatically. COVID-19 pandemic has accelerated the social distancing and cashless payment is the demand of the hour. Consumers prefer digital payment methods over traditional cash payments.
Digital wallets, mobile money payment solutions, QR Code scanning, mPOS, etc are some of the most used digital payment methods your consumers are widely accepting. According to a study by PYMNTS and American Express, the QR Codes payment system is the second most preferred digital payment method with 66.5% of the consumers surveyed followed by a card on file. Needless to say, the QR Codes payment system is a growing trend in the fintech industry among other digital payment solutions and here we are going to present everything you need to know about QR Code payments. So let’s quickly start with understanding the basics of QR Codes and how do they work.