Tag: qr code app

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.

Smartphone users have a wealth of information available to them by scanning QR codes on products and in advertisements, and will now be able to make charitable donations through the same format.

QR codes to aid 6,000 charities

The start-up Paystik has launched a campaign to raise charitable donations for over 6,000 charities using the QR code as a means to make quick and easy payments when consumers wish to donate to a charity of their choosing. The goal is to use QR codes for easy payments to both charities and small businesses. Both can sign on with Paystik to produce QR codes, thus reducing problems with billing and advertising.

The result will be an app for smartphones, allowing consumers to send quick and easy payments. Project C.U.R.E. will begin a campaign this week with direct mail. Last year, this organization reached out to consumers for charitable donations over the holidays and supplied over $40 million in medical care and supplies around the world. This campaign will be aimed at merchants this year.

QR codes gaining in US

The US has been a hard sell for mainstream use of QR code for payments. Companies like Paypal, DigiMo, Qriket, and Doxo have been accepting payments through QR, though none have become a huge success in that category. It is thought that smartphone saturation in the US could see a change in that regard, with smartphone use steadily on the rise. Still, a QR code is often a hard sell in the US. Some consumers are still not sure what their purpose is and are not aware of how to use the technology.

Co-founder James Ioannidis said, “Obviously, the first time is the hardest. But after on-boarding them, we see consumers making repeat transactions.” He went on to explain that he feels aiding charities will bring Paystik success where other campaigns featuring QR code have faltered. The biggest obstacle is getting the consumer aware of the code and to also download the app.

About Paystik

The company of New Stanford is a three-person operation based in Stanford Venture Studio at the Graduate School of Business. At the present time, the company is bootstrapped, meaning they have no outside investment. Ioannidis is a former program manager with Microsoft.