QR Code: How they work to receive payments in your business
The need for a more secure and faster technology than barcodes gave rise to the QR code. The idea came from Denso Wave, a Japanese multinational automotive company, to track complex parts.
It has evolved by leaps and bounds. Today you can find QR codes that provide information of all kinds. For example, this technology has redefined the business transaction scene, thanks to its application as a payment method.
In this article we will tell you about the QR code, how it works, its advantages and how to take advantage of this technology with the PAGO46 cash payment platform.
What is a QR code?
The Quick Response, or QR, code is a two-dimensional version of the barcode. This technology can transmit a wide variety of information, almost instantly, by scanning a mobile device.
It can store up to 7089 digits or 4296 characters, including punctuation marks and special characters. It also encodes words and phrases such as Internet addresses. The more data you add, the more the size increases and the more complex the structure becomes.
The QR code structure data keys include duplications. And it is these redundancies that allow up to 30% of the code structure to be damaged without affecting its readability on scanners.
Initially, QR codes were used in the automotive industry. Thanks to the increased use of smartphones and the lack of a patent, it became an open source technology available to all.
How does the QR code work to pay for products and services?
To read a QR code, you need a scanner. Fortunately, you don't need the size and type of scanner you find in your local supermarket.
You can do this by downloading a special app from your smartphone. Most of today's phones contain scanning technology that easily reads QR codes and other types of barcodes.
QR codes contain black modules (the square black dots) arranged in a pattern on a grid with a white background. These modules contain customised data, along with a search pattern and alignment pattern. Hence, they are easy to read by devices.
In terms of how the QR code works, the operation is very simple: customers and users make a purchase, open the e-wallet, where they have their bank accounts, cards or a cash payment application such as PAGO46 associated with them.
Once they choose a payment method, they scan the merchant code and that's it!
Advantages of using QR codes
Mobile shopping is on the rise. Many business owners are looking for new ways to enable customers to use their phones as a payment instrument. Let's review the most positive aspects.
Instant
One of the biggest advantages of QR codes is the ease of instant payment.
Payment via this method is extremely fast compared to other methods, such as a bank transfer. The user simply opens the app, scans the QR code and confirms the payment process. In a few seconds, the payment is ready.
Easy
Setting up a QR code payment is extremely easy. You don't need a lot of infrastructure. All you need is a smartphone with a camera and the QR code, either printed or digital.
The use of QR codes for payments also eliminates the requirement for a point-of-sale machine or any other special equipment used for payments.
Practical
SMEs also use QR codes for payments, because it is a simple and efficient operation even for higher volume sales.
The merchant issues both the invoice and the QR code and, in order to finalise the payment, customers scan the QR code.
Insurance
Making payment using QR codes is very secure. Because the QR code is a tool that is used to exchange information, with all the appropriate cybersecurity requirements.
The data encryption system achieves a secure payment, with low vulnerability to cyber-attacks and guarantees full security of customers' and users' personal and financial data.
Discover the PAGO46 QR code payment system.
PAGO46 is the fastest, simplest and easiestcash payment platform in Latin America.
By integrating your business into PAGO46 you will be part of a large network with a variety of services and benefits at your disposal.
With us you can accept cash payments with or without integration, through your website, app, email, social media or chat with the PAGO46 platform.
Our QR code payment system works as follows: when opting for the PAGO46 option, the system generates a QR code, which is also numeric. This option will give your customer access to a map with payment points close to their location or the possibility to choose a Partner46 Delivery.
In any case, once the payment has been made using the QR code (which was previously sent to the courier), you will be able to collect your purchase, confirm the delivery or enjoy the service.
Conclusion
The QR Code is a kind of advanced barcode, capable of storing large amounts of data and information. With a smartphone scanning application, this data is transformed into information that allows, for example, cash payments to be made.
Its uses and applications are innumerable. In recent times, its development has been particularly linked to payment methods, as it has come to facilitate commercial transactions at a global level.
At PAGO46 you can enjoy all the benefits of cash payments through our platform that includes QR code technology. Contact us.