CATEGORY - TRENDS

What Is QR Code & How Does It Work

Trends - 26 Mar, 2024

Table of Contents

A QR code, short for Quick Response code, is a type of barcode that a smartphone camera can scan to access information. It’s a square matrix of black and white modules that can store various data, including URLs, text, phone numbers, and even small files.

Did you know?

Over 35% of smartphone users scan QR codes regularly.
QR codes can store up to 4,296 characters of text.
They can access websites, download apps, make payments, and more.

The following section will explore QR codes’ workings, advantages and disadvantages, and some exciting applications.

What is QR code?

A QR code is a square-shaped barcode that a smartphone or other digital device can scan. It contains information encoded in a series of black-and-white squares, which your device can quickly access.

QR codes can be used for a variety of purposes, such as:

Websites: Quickly access a website without typing the URL.
Contact Information: Instantly save someone’s contact details to your phone.
Payment: Make payments quickly and securely.
Product Information: Get more information about a product, such as reviews or specifications.

QR codes are becoming increasingly popular as they offer a convenient and efficient way to access information.

How Does QR Code Payment Work?

QR code payments have revolutionised the way we make transactions. Here’s a simple breakdown of how it works:

Merchant Generates a Payment QR Code: The merchant creates a unique QR code using a payment app or a dedicated QR code generator. This code contains specific information about the transaction, such as the merchant’s details and the payment amount.
Customer Scans the QR Code: The customer scans the QR code on their smartphone. This can be done through the camera app or a dedicated QR code scanner.
Payment App/Digital Wallet Opens: The customer’s payment app or digital wallet opens automatically once the QR code is scanned. The app recognises the QR code’s information and pre-fills the transaction details.
Transaction Details Verification: To ensure accuracy, the customer reviews the transaction details, including the amount and merchant information.
Authentication and Security Check: To authorise the payment, the customer may need to enter a PIN, biometric authentication (fingerprint or facial recognition), or a one-time password (OTP). This ensures security and prevents unauthorised transactions.
Transaction Confirmation: After authentication, the customer confirms the payment.
Payment Notification: Once the transaction is successful, the customer and the merchant receive a notification confirming the payment.

Why QR Code Payments Are Popular

Convenience: QR code payments are quick and easy to use.
Security: Strong authentication measures protect against fraud.
Cashless Transactions: They promote a cashless economy, reducing the risk of counterfeit currency and theft.
Accessibility: QR codes can be used by anyone with a smartphone, making payments accessible to a broader audience.

By following these simple steps, you can easily make payments using QR codes and enjoy the benefits of a seamless and secure payment experience.

Different Types of QR Codes

QR codes have become increasingly popular in recent years, offering a convenient way to access information and perform actions with a simple scan. Let’s explore some of the most common types of QR codes:

URL QR Code: This is the most basic type of QR code, linking to a specific website or webpage. It’s often used for marketing campaigns, product information, or directing users to a particular online resource.

vCard QR Code: This type of QR code stores contact information, such as names, phone numbers, email addresses, and physical addresses. It’s valid for business cards, networking events, or any situation where you want to share your contact details quickly.

SMS QR Code lets you pre-fill an SMS message with a specific text and phone number. It’s often used for marketing campaigns or to provide quick access to customer support.

Email QR Code: Similar to the SMS QR code, this type pre-fills an email message with a specific subject and body text. It’s useful for quick email communication or to gather feedback from customers.

WiFi QR Code: This code allows users to connect to a WiFi network without manually entering the network name and password. It’s commonly used in public places like cafes, restaurants, and hotels.

App Store QR Code: This QR code directs users to a specific app in the App Store or Google Play Store. It helps promote mobile apps or direct users to download a particular app

By understanding the different types of QR codes, you can effectively use them to enhance your marketing efforts, improve customer experiences, and streamline various processes.

What are the Advantages of a QR code?

Convenience:
QR codes can be scanned quickly and easily using a smartphone camera. This eliminates manual data entry, saves time and effort, and provides a convenient way to access information.
Versatility:
QR codes can be used to store a variety of information, including:
1. Website URLs
2. Contact information
3. Product information
4. Social media links
5. Payment information
Improved Customer Engagement:
QR codes can be used to create interactive experiences for customers. For example, you can use them to:
1. Provide additional product information
2. Offer exclusive discounts and promotions
3. Conduct surveys and feedback forms
4. Link to video content or online tutorials
Contactless Payments:
QR codes have become increasingly popular for contactless payments. By scanning a QR code, customers can pay for goods and services without physical contact. This is especially beneficial during times of increased hygiene concerns.
Trackable and Analytical:
QR codes can be tracked to gather valuable insights into customer behaviour. By analysing data from QR code scans, businesses can:
1. Measure the effectiveness of marketing campaigns
2. Identify popular products and services
3. Optimise their sales and marketing strategies

What are the Disadvantages of QR codes?

While QR codes offer numerous benefits, it’s essential to acknowledge their potential drawbacks:

Limited Scannability: QR codes can be challenging to scan in low-light conditions or on damaged surfaces.
Security Concerns: Malicious QR codes can redirect users to harmful websites or download malware.
User Experience: Some users may need help with scanning QR codes.
Accessibility Issues: Individuals with visual impairments may struggle to scan QR codes, especially if they lack clear visual cues.
Technical Limitations: Older devices or specific operating systems may not support QR code scanning.

To mitigate these disadvantages, it’s crucial to use reliable QR code generators and implement robust security measures. Providing clear instructions and alternative access methods can enhance the user experience.

Difference Between Barcode & QR Code

Feature	Barcode	QR Code
Invention Year	1952	1994
Inventor	Norman Joseph Woodland	Masahiro Hara
Primary Function	Track inventory, products	Share various data (text, links, vCard)
Type	1D (linear) or 2D (limited types)	2D (square grid)
Data Capacity	Lower (around 100 characters)	Higher (up to 4,296 characters)
Scanning Direction	Horizontal only	Any direction
Error Correction	Limited	Advanced error correction for better readability
Scanning Device	Barcode scanner	Smartphone camera or scanner app
Typical Uses	Retail product tracking, library books, airline tickets	Website links, business cards, mobile payments, product information

Understand some Applications of QR Codes

QR codes, those square-shaped barcodes, have become increasingly prevalent in our daily lives. Let’s explore some of their practical applications:

Product Packaging and Labels: QR codes on product packaging can provide consumers with additional information, such as ingredient lists, nutritional facts, or product origin. Some brands even use them to link to product videos or online reviews.
Marketing and Advertising: Businesses can use QR codes to create interactive marketing campaigns. Customers can scan a code to access exclusive offers, discounts, or behind-the-scenes content.
Event Ticketing and Check-In: QR codes can streamline the event check-in process. Attendees can scan their digital or printed tickets to gain entry, reducing wait times and improving the overall experience.
Public Transportation and Ticketing: Many public transportation systems are adopting QR code-based ticketing. By scanning a code, commuters can purchase tickets, check schedules, and track their journeys.
Authentication and Security: QR codes can verify the authenticity of products or documents. Some luxury brands use them to authenticate their products and prevent counterfeiting.

We expect to see even more innovative applications as QR code technology evolves.

How QR Codes are Revolutionising Digital Transactions

QR codes have emerged as a powerful tool, transforming how we conduct transactions. Here’s how they’re revolutionising the digital landscape:

Contactless Payments: QR codes enable quick and secure contactless payments, minimising physical contact and reducing the risk of infection.
Accessibility and Inclusion: QR codes can be scanned using smartphones, making transactions accessible to a broader range of people, including those who may not have traditional payment methods.
Cost-Effective Solutions: QR code-based payments often involve lower transaction fees than traditional methods, making them cost-effective for businesses and consumers.
Seamless Integration with Digital Wallets: QR codes can be easily integrated with digital wallets, allowing for fast and convenient payments.
Enhanced Security Measures: Many QR code payment systems incorporate advanced security features like encryption and tokenisation to protect sensitive information.
Data Analytics and Insights: QR codes can collect valuable customer behaviour and preferences data, helping businesses make informed decisions.
Streamlined Checkout Processes: QR codes can simplify the checkout process, reducing wait times and improving customer satisfaction.

By embracing QR code technology, businesses and individuals can experience the benefits of faster, safer, and more convenient digital transactions.

How Does Easebuzz Come into Play?

Easebuzz is a powerful tool that simplifies the way businesses accept payments. It Allows you to easily integrate online payment gateways, enabling your customers to pay securely and conveniently.

Key benefits of using Easebuzz:

Seamless Payment Experience: Offer your customers various payment options, including credit cards, debit cards, and net banking.
Enhanced Security: Protect your business and customers’ sensitive information with robust security measures.
Efficient Payment Processing: Streamline your payment process and reduce manual efforts.
Real-time Tracking: Monitor real-time transactions and gain valuable insights into your business performance.

Easebuzz’s QR Code Solutions:

Easebuzz offers innovative QR code solutions to simplify payments further. With QR codes, customers can quickly scan and pay for products or services using smartphones. This is especially useful for businesses that operate in physical locations or want to offer contactless payment options.

Consider these additional benefits of Easebuzz’s QR code solutions:

Integrate via APIs: Easily integrate QR codes into your website, mobile app, or physical store.
Increased Efficiency: Reduce checkout time and improve customer satisfaction.
Data-Driven Insights: Track payment trends and customer behaviour to make informed business decisions.

By leveraging Easebuzz’s comprehensive payment solutions, businesses can optimise their operations, boost sales, and provide a seamless customer experience.

Conclusion:

QR codes have evolved from primary data storage to powerful tools for modern interactions. They simplify marketing, secure transactions, and enable instant access to information. Easebuzz leverages this technology to offer seamless, safe, and insightful payment solutions. By integrating QR codes into its platform, Easebuzz empowers businesses to meet the demands of the digital age.

Sign up today to boost your business with Easebuzz’s secure QR Code solutions for shops, retail, inventory, coaching classes, ecommerce, and event management!

FAQ’s

Is QR payment safe?

Yes, QR payments are generally safe with reputable payment apps and follow best practices, such as avoiding public WiFi for transactions.

What is the difference between Bharat QR and UPI?

Bharat QR is a common QR code standard for all UPI apps. UPI (Unified Payments Interface) is a system that powers real-time fund transfers between bank accounts.

What app can I use to pay with a QR code?

You can make QR code payments using various apps. For individuals, popular options include Google Pay, PhonePe, Paytm, and Amazon Pay. These apps are widely accepted and offer features like cashback and rewards. For businesses, especially in the B2B segment, Easebuzz is a reliable payment gateway solution. When selecting an app, prioritise reliability, features, and acceptance at your preferred merchants.