October, 2024
In recent years, the popularity of QR code scanners has been rising in the US. The number of smartphone users who used a QR code scanner surged by almost 20 million between 2020 and 2022. After reaching 88.9 million users in 2022, the technology is projected to reach 94.1 million users by the end of 2023 and exceed 100 million by the end of 2025. In this study, only adults were included. These numbers would likely have been much higher if teenagers had also been considered. QR codes are increasingly becoming a common form of payment over recent years. The adoption of digital wallets facilitated the rise of QR codes in payments. The transformation toward QR payments is expected to rise. As mobile technology has become more advanced, most smartphones include a built-in QR Code scanner which makes it more accessible and has gradually streamlined among end-users. QR codes allow instant payment opportunities, a customer only needs to scan the given code and pay. Merchants accept in-store or online payments on their website using static and dynamic QR codes. QR codes are gaining immense popularity among customers as they offer secure, simple, and convenient digital payment options. The payments through QR codes are generally safer. QR codes are encrypted, making the payment foolproof and secure.
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