QR codes used by Bancontact to facilitate mobile commerce

New application makes use of QR codes to make mobile payments easier for consumers

Bancontact, a Belgian electronic payments firm, has launched a new mobile application that will help introduce a new service into the realm of mobile commerce. Consumers around the world have shown strong interest in mobile commerce, which includes online shopping, banking, and payment transfers. In order to meet the demands coming from consumers regarding  comprehensive mobile commerce services, Bancontact has introduced a new application, which focuses on the use of QR codes.

Codes may be very useful for personal transactions

QR codes are most commonly used in mobile marketing and have excelled in this particular field. The codes allow consumers to access digital information from their smartphones and tablets. The codes have begun seeing use in the field of mobile commerce, with retailers like Tesco using them to facilitate electronic payments for products. Bancontact believes that the codes could be especially useful in helping consumers transfer funds to one another.

QR codes generated by the application can be used to initiate payments

The new application from Bancontact leverages QR codes to allow users to send money to each other.  The application could be particularly beneficial for those that operate their own businesses as it allows them to accept electronic payments for their goods and services more easily. The application can be used to generate a QR code that is associated with a certain amount of money. When this code is scanned by another person, they will be able to make a payment directly to the code’s owner.

Codes may soon become powerful mobile commerce tool

Currently, the application can only facilitate payments of up to $20. The application is available for the Android and iOS platforms and is available to Bancount’s 15 million cardholders. Bancount believes that the application will help draw more attention to QR codes and their use in mobile commerce. The codes are likely to remain a very powerful mobile marketing tool, but may soon become one of the most widely used mobile commerce tools.