Why choose QR code payment?
QR code payment is a secure and efficient method that offers numerous benefits and advantages for both consumers and merchants. In a world where updates are constant, users are seeking quick and secure payment methods, spurring companies to stay at the forefront of technology. To boost conversions and foster customer loyalty, QR codes are the solution for any commerce and fintech platform, whether for payments, credits or loan management.
Various types of QR codes can be utilized in the payment process. A static QR code contains fixed information, such as the payment amount and merchant identification. On the other hand, a dynamic QR generates a new code for each transaction, adding an additional level of security. Whether it’s a static, dynamic, or combined QR, this payment method contains a greater amount of information, is much more secure, and allows for quicker and more efficient integrations.
Advantages of QR code payment
One of the main advantages of using QR codes in digital payments is their ease of use. Consumers only need to scan the QR with a compatible mobile app or digital wallet, thus making the payment process fast, simple, and convenient.
Furthermore, the use of QR codes in digital payments provides greater security. Personal and financial user data remain protected, as there is no need to share confidential information during the transaction, significantly reducing the risk of fraud or identity theft.
Another significant advantage is interoperability: QR codes are compatible with different platforms and mobile applications, making them easily adaptable by both merchants and users. In Argentina, for example, the implementation of the Coelsa system has enabled small businesses to accept QR code payments without the need for an additional payment gateway.
The future of digital payment methods in Argentina seems to be increasingly linked to the widespread use of QR codes. With its clear benefits and advantages, this payment method is positioning itself as a convenient and secure option for both users and merchants alike.
Challenges and Opportunities
When it comes to implementing QR code payments, there are challenges and important aspects that must be considered. On one hand, it’s essential to comply with all regulations and laws related to the protection of personal data, always establishing the appropriate protocols for secure handling and confidentiality. It’s also important to a proper system testing before the implementation, to identify potential flaws or vulnerabilities.
Furthermore, to ensure the system’s reliability, robust security measures must be implemented. This means, working with trustworthy providers that handle international and local standards, and possess the knowledge and experience for a smooth and secure transition toward the future of payment methods.
Applica has the know-how and experience in developing all types of QR codes. For Fiserv, we developed the first interoperable QR code in the region, enabling payments in Argentine and Brazilian coins, which has opened significant business opportunities for Argentine establishments seeking to sell to tourists.
Together, we can build an innovative proposal to drive your growth! Contact us at: contact@applica.dev