{"id":1799,"date":"2017-03-19T09:43:48","date_gmt":"2017-03-19T09:43:48","guid":{"rendered":"https:\/\/blogs.scu.edu\/finis\/?p=1799"},"modified":"2017-03-19T09:43:48","modified_gmt":"2017-03-19T09:43:48","slug":"qr-code-based-payments","status":"publish","type":"post","link":"https:\/\/blogs.scu.edu\/finis\/2017\/03\/19\/qr-code-based-payments\/","title":{"rendered":"QR code based payments"},"content":{"rendered":"<p>Compared to NFC, QR Code\u00a0is a much cost-effective and viable option.\u00a0Most retailers have barcode scanning hardware. It\u2019s integrated with their POS for billing of products. So there is no need for extra hardware.Let\u2019s assume small businesses do not have scanners. Even then buyers can make QR Code payments.<\/p>\n<p><strong><span style=\"text-decoration: underline\"><em>How Do QR Code Payments Work?<\/em><\/span>\u00a0<\/strong>Businesses have options on how they wish to process QR Code payments based on their scale of business.<\/p>\n<p><em><strong>1.Buyer-to-Large Retailer Transactions<\/strong><\/em><\/p>\n<p>This system of QR Code payment applies to large retailers such as supermarkets. Let\u2019s assume they have barcode scanners at every POS. This is how it works:<\/p>\n<ul>\n<li>Let\u2019s say a buyer picks up items worth $400 at Walmart and goes to the cashier for checkout<\/li>\n<li>The cashier scans each item and generates a bill of $400. He generates a unique QR Code on a screen near the POS<\/li>\n<li>Buyer opens the payments app on his\/her smartphone, scans the QR Code, and authorizes the payment<\/li>\n<li>The cashier gets a notification that buyer has made the payment and prints the sale receipt<\/li>\n<\/ul>\n<p><em><strong>2.Buyer-to-Small Business Transactions<\/strong><\/em><\/p>\n<p>This mode of QR Code payments applies to small businesses and retail outlets. Let\u2019s assume they do not have barcode scanners at POS.This is how the process works:<\/p>\n<ul>\n<li>Buyer picks up items worth $12 at a small store<\/li>\n<li>The cashier requests buyer to make a payment and points at a printed QR Code near the POS<\/li>\n<li>Buyer opens the payments app, scans the QR Code, enters the amount, and authorizes the payment<\/li>\n<li>The cashier gets confirmation via SMS<\/li>\n<\/ul>\n<p>Note that in this case, the buyer enters the amount and the merchant has a permanent QR Code. This QR Code helps the buyer app to identify the merchant account.<\/p>\n<p><em><strong>3.Peer-to-Peer Transactions<\/strong><\/em><\/p>\n<p>This mode of QR Code payment applies when an individual needs to pay another. For example, friends, family members, or self-employed professionals.This is how it works:<\/p>\n<ul>\n<li>Marsha got some plumbing work done from Ross, the plumber and she now owes him $50<\/li>\n<li>Ross opens the payments app and generates a QR Code worth $50<\/li>\n<li>Marsha opens her payments app and scans this QR Code on Ross\u2019s phone to allow the transfer<\/li>\n<li>The transfer is complete and both Ross and Marsha receive an SMS confirmation<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline\"><em><strong>Conclusion:<\/strong><\/em><\/span> For businesses of all sizes, small or large, QR Code payments is the easiest way to go cashless. It is far more inclusive than NFC-payments and much more affordable. Also, QR code based payment provides convenience as well as enhanced security, preventing users from identity theft or loss of critical information.<\/p>\n<p><i>References<\/i><em>:<\/em><\/p>\n<p><a href=\"https:\/\/tpay.com\/en\/mobile\/qr-payment\">https:\/\/tpay.com\/en\/mobile\/qr-payment<\/a><\/p>\n<p><a href=\"http:\/\/www.businesscardsqrcode.com\/qr-payments.html\">http:\/\/www.businesscardsqrcode.com\/qr-payments.html<\/a><\/p>\n<p><a href=\"http:\/\/www.bpay.com.au\/Business\/Large-Business\/BPAY-Services\/QR-codes.aspx\">http:\/\/www.bpay.com.au\/Business\/Large-Business\/BPAY-Services\/QR-codes.aspx<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Compared to NFC, QR Code\u00a0is a much cost-effective and viable option.\u00a0Most retailers have barcode scanning hardware. It\u2019s integrated with their POS for billing of products. So there is no need for extra hardware.Let\u2019s assume small businesses do not have scanners. Even then buyers can make QR Code payments. How Do QR Code Payments Work?\u00a0Businesses have &hellip; <a href=\"https:\/\/blogs.scu.edu\/finis\/2017\/03\/19\/qr-code-based-payments\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">QR code based payments<\/span><\/a><\/p>\n","protected":false},"author":1681,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1799","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"mon","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/sonam\/"},"qubely_comment":0,"qubely_category":"<a href=\"https:\/\/blogs.scu.edu\/finis\/category\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","qubely_excerpt":"Compared to NFC, QR Code\u00a0is a much cost-effective and viable option.\u00a0Most retailers have barcode scanning hardware. It\u2019s integrated with their POS for billing of products. So there is no need for extra hardware.Let\u2019s assume small businesses do not have scanners. Even then buyers can make QR Code payments. How Do QR Code Payments Work?\u00a0Businesses have&hellip;","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1681"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1799"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1799\/revisions"}],"predecessor-version":[{"id":1800,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1799\/revisions\/1800"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}