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QR Codes — How Are They Gaining Traction in India

November 2, 2022
in Fintech
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QR codes have subconsciously become a part of our daily lives. As a technological upgrade to a barcode, QR codes can contain 100x more information than a barcode. The utility of QR is now found in many sectors as the technology slowly paves way for its existence in the economy. While QR codes for payments have already been pioneered by Paytm, its usage has become clearly widespread in other industries too. Some major uses of QR codes are:

1. QR Code payments

QR payments are widely used due to their properties of being contactless and quick. They are an alternative to electronic fund transfers, where users had to carry out long procedures to make a single payment. To make a QR payment, the users scan the code via respective payment apps and enter the amount to be debited. QR-based payments influenced the arrival of many UPI-payments apps that collectively generate an average of 10 lakh crores a month. Such payments are also integrated with service providers. For instance, travelers can purchase Mumbai Metro tickets via Paytm App simply by generating the QR code. 

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2. Restaurant ordering with QR codes

Many restaurants and cafes in India present a QR code at the tables for the diners to scan and view the online menu. Many QR codes even redirect the user to the restaurant’s official website from which they can order food. The order details, then reach the kitchen staff and food gets served at the respected table This way, the entire process of ordering food becomes completely contactless without much involvement of a mediator.

3. QR code Wifi sharing

QR codes are one of the fastest ways to share your WiFi. To generate the QR, one can use their in-house mobile software or a third-party application. The code can be generated both with and without passwords. To enable WiFi sharing for public access, one can also print the QR. 

4. Downloading apps via QR codes

QR codes can easily link the user to the intended AppStore. By clicking the URL, the user will be redirected to the website where the application can be downloaded. This way, QR codes help streamline the downloading process by diverting users from platforms to the AppStore. 

The usage of QR codes has escalated especially after COVID when the government started promoting contactless activities. 

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