Did you really think QR codes had become passé?
There was a time when everyone was trying to embrace QR codes, and they’re certainly in place for many loyalty schemes today. Yet in the UK at least their use appears to have dwindled, and I’m sure it’s not just my imagination! But here’s a prediction for you: given recent global technology trends, I think QR codes will be back with a passion.
The promise of QR code payment
Why? Take a look at WeChat in China. It’s a sort of combination of WhatsApp and Snapchat. It has a payment option to transfer money between WeChat users (peer-to-peer) as well as to make payments online and with participating outlets.
It’s all executed via QR codes on the phone, and it’s all very easy and clever. An individual accepts a QR scan and just makes payment. It’s known that WeChat and the Chinese mobile and online payment platform Alipay are looking to expand globally.
There’s no doubt that existing App providers everywhere will start to deliver the same service. The major card players are keeping a very close eye on it. Visa’s eco-system already embraces a QR-based mobile payments solution, so people can send payments directly from their Visa debit or credit card account to all kinds of merchants and businesses using just their phone.
It’s very much ‘on the cards’: mPOS QR enablement
In order for cards to be accepted, we’re now seeing first-generation mPOS vendor devices being enabled for QR technology. It means there’s a button on the mPOS device that says ‘QR technology’. In these early days of developments, though, questions remain about reliability and performance. But we’ll get there.
Types of QR Code payment – the ‘word on the street’
It will be interesting to monitor market developments, in terms of how the two main types of current QR code payments play out– i.e. using QR code-enabled plastic card and mPOS devices, and/or using QR codes on mobile devices. By the way, the word on the street is that manufacturers very much expect QR codes on cards with mPOS devices featuring a ‘QR technology’ button. That’s a lot of back end work for the industry.
Pioneering new ways of paying
But the market is developing in other ways, too. Retailers will put QR codes on products so that customers simply purchase them directly from their mobile devices. This will then automatically take purchases off the retailer’s stock, receive payment and trigger updates throughout the business.
Looking further ahead, of course, there’s the amazon go model, using QR codes, biometrics and machine learning to enable completely seamless payments in store. So yes, yet more technological possibilities with the power to change how we live, shop and work!
Watch this space
No matter what the trends and technologies are, as a Payment Gateway provider, we’ll be integrating and ensuring the payments are safe, secure and being delivered where they’re supposed to be. The technology isn’t really quite there yet, but the trends are emerging fast. Our job at Anderson Zaks is to keep a close eye on the market, to be sure we’re ahead of the game and to give the best advice to our customers. So watch this space, we’ll be watching and commenting again!
Author: Dai Roberts, Chief Information and Security Officer
Partnership provides flexible and cost effective go-to-market epos solutions to support new model of retail with shops, restaurants and expanding global operations
Anderson Zaks, a leading UK-based multichannel Payment Gateway solution, is combining its RedCard solution with Smart Volution’s Register EPOS solution, designed for small to medium retailers. The partnership will provide businesses in retail, hospitality and beauty services markets with a modern, cost efficient, electronic point of service solution that is device and service provider agnostic, for authorisation, settlement and value added transaction services. Anderson Zaks’ RedCard processing software supports Chip and PIN, contactless and e-commerce transactions, complementing Smart Volution’s flexible epos solution, designed for cafes, salons and independent retailers.
Justin Coward, CEO Smart Volution said; “Today’s Android based hardware and software solutions enable small and medium retailers to realise the same benefits that large retailers with much larger budgets gain from their epos technology.
“This new partnership with Anderson Zaks supports our aim to continually provide top tier retail functionality applicable to all businesses, large and small. Their device independent approach to epos innovations aligns with Smart Volution’s own vision to compete in the next generation technology environment for retailers and hospitality and service businesses.”
Iain High, CEO at Anderson Zaks commented; “The partnership with Smart Volution is a perfect match for our payment processing software, which already has connections to UK, European, Middle East and American acquirers. Today epos solutions are key to successful innovations in the retail market, whether that means supporting cashless payments, pop-up shops and restaurants or businesses wishing to expand on a global basis.
“Smart Volution has the same entrepreneurial approach as Anderson Zaks to providing an epos solution that is both acquirer and hardware agnostic. Their adaptable and innovative approach matches our own business ethos and will enable us to provide retailers and service businesses with a truly flexible epos solution.”
NOTES to EDITORS
About Smart Volution
Smart Volution has been delivering innovative retail focused software for over 13 years. Utilizing our experience with large retailers Smart Volution designed ‘Register’ EPOS to provide a modern, cost-effective EPOS solution for small to medium retailers across multiple vertical markets. We are channel centric and provide innovation, experience and maturity to this market.
Smart Volution turns complex solutions into products, sold as a service, which enables small and medium retailers to gain the same benefits that large retailers with much larger budgets attain from technology. Our on-going mission is to continually provide top tier retail functionality applicable to all businesses, large and small.
For more information, please visit: https://www.smartvolution.com/