QR code scanning has become a preferred payment option for more people and is thought to be one of the most reliable, cost-effective, secure and efficient payment acceptance methods. If you are still using a POS machine that can only accept card payments, you’re probably saying goodbye to more customers.
The QR code payment market is boosting. The statics provided by Grand View Research shows that the global QR code payment market size was worth 9.98 billion U.S. dollars in 2022. It’s predicted that the number of users using two-dimensional code payment will continue to rise in the future.
Why QR code payment is becoming more popular?
1. Rising smartphone users
As technology advances, the smartphone costs less and more people could afford a smartphone. With a smartphone, people could pay their fees using 2D codes easily. They could select to show their payment codes to the merchants or use the smartphone camera to scan the code provided by merchants to pay. Smartphones make code scanning simple, convenient and easy to operate.
2. Popularity of digital payments
During the COVID-19 pandemic, people prefer the more hygienic contactless payment methods to reduce virus transmission. The code scanning payments allow customers to pay without the necessity to touch anything. They are able to scan the codes with cell phone cameras from a distance. In the post-pandemic era, people continue this payment habit and don’t reduce the favor of scanning code payment.
3. Security of QR codes
Unlike card payments, customers don’t have to input any sensitive information by paying with two-dimensional codes. The codes adapt the encryption method to protect the data, which is thought to more secure and reliable. It protects the transaction security for both merchants and customers.
How to implement QR code payment?
There are two main methods to implement code scanning payments currently.
1. Customers show their payment codes to merchants.
Nowadays, most payment applications are promoting code payments and can generate payment codes for every user. When checking out, customers just need to open their payment applications and show their own payment codes to merchants. Then the merchant uses a built-in or external scanner of their POS terminals to decode the QR codes that the customers show and accept the payments.
2. Customers scan the codes provided by merchants to pay.
It is a cost-effective option for merchants, for they don’t have to purchase an additional accessory like the scanner. As soon as the order is confirmed, the POS system can automatically generate the codes for customers to scan and pay. Merchants could display the code on the secondary screen so as to provide more convenience for customers.
Telpo’s latest smart POS terminal, the Telpo M8, is absolutely a cost-effective choice for merchants who would like to implement QR code payments.
1. 3.27-inch customer-facing screen
In addition to the 8-inch touchscreen with 800*1280 resolution, the Telpo M8 is equipped with a 3.27-inch color screen used as a customer-facing screen. The small-size screen can be used to display the QR codes, amounts, images, etc.
This dual-screen smart POS terminal is of high performance-to-price ratio. It satisfies the merchant’s need of displaying payment codes without purchasing a costly dual-screen smart cash register.
2. Built-in scanner
There is a scanner built into the Telpo M8, and thus users could use it to scan the commodity barcodes or customers’ payment codes. This Telpo smart POS terminal makes users easy to implement QR code scanning and provides one more payment option for customers.
The Telpo M8 provides two scanner options for customers to select. The software decoding is standard and the hardware decoding is optional. Customers could select according to their actual needs. Besides, a function key is specifically designed for users to quickly perform their commonly-used functions, like scanning codes and printing. As soon as users press the key, they could quickly operate their self-defined functions.
Of course, advantages of the Telpo M8 are not limited to the content mentioned above. You could know more details from the previous introduction article. How Can Smart POS Improve The Tax Compliance
The Telpo smart POS terminal M8 is the best choice for small and start-up businesses. Welcome to contact us for more details. I believe it won’t let you disappointed.
Tag: smart POS terminal, QR code payment, code scanning,advantages of QR code payment