How do QR code-based payments work?

Person holding smartphone with QR code for payments
Idil Aras
Idil Aras
November 14, 2022

Everyone has been interested in QR code-based payments for a while. The adoption of the aforementioned approaches has progressed far more slowly in Europe than it has in Asian nations, particularly China. However, things are changing throughout the world, and more people are choosing QR payments over other payment options. Today, everyone is accustomed to the recognizable black-and-white square shape of a QR code. The widespread acceptance of QR codes is a result of the rise in smartphone usage and the widespread availability of high-speed internet. This is the reason why QR codes are so common, whether in retail, entertainment, or advertising. Let's explore QR payments now to see what they are, how they operate, and how your company as an operator might profit from them.

What is a QR Code?

QR stands for quick response. QR codes are 2D codes similar to barcodes, available in a square shape, in a pattern of small black squares on a white background. However, they differ from conventional barcodes in more ways than just their appearance. These codes can store more information than barcodes and can be read by smartphone cameras from both paper and digital sources such as websites or apps.

If we think back to the past, a specific QR scanner app had to be used on cell phones. But nowadays, the majority of iOS and Android smartphones' built-in cameras can read these codes without the need of additional software. In the middle of the 1990s, the Japanese company Denso Wave invented QR codes to create barcodes for production tracking. Other use cases were investigated, but because they were difficult to obtain and were gradually being phased out, customers did not stick with the concept. But in 2017, Apple introduced QR code scanning on the iPhone. Android soon followed, and all of a sudden, customers had more access to QR codes.

Then, when the epidemic entered our world, QR code payments started to become commonplace. Customers could check into venues quickly and easily, make secure contactless payments, browse menus and services without directly interacting with personnel, and explore menus and services.

What are the benefits of using QR codes for payments?

A QR code displayed on a smartphone indicating the availability of QR Code-Based Payments

Every unpaid receipt may have a special QR code printed on it thanks to scan-to-pay technology, enabling customers to settle their accounts right away as they receive their checks. There is no need to wait for the server to retrieve a credit card, swipe it at the POS, and then return it to the customer. Quick Response, or QR, enables consumers to make contactless payments in a matter of seconds with no hassle for the consumer.

Accept faster payments & serve more visitors

The same-day delivery & self-checkout industries have made it such that customers are no longer willing to wait for their purchases. With QR code payments, you can speed up payments and thereby improve the number of consumers you can service, whether it's an online delivery or an in-person transaction.

Increase your revenue

Since using QR codes to pay the bill is so simple, it can persuade your customers to order more.

Make your visitors happy

The day when all you could think about while waiting for the check was getting home is gone! By providing this convenient payment option to your customers, you'll improve customer happiness.

Make your employees happy

You may relieve your employees of the responsibility of processing payments by using QR code payments. They won't even need to bring the bill to the table since all invoices will be created automatically. Waiters are free to concentrate on what they specialize in, which is serving clients.

How do QR code payments work?

When a consumer scans a QR code, the payment is often performed through their smartphone. Once scanned, users are sent to a checkout page where they may input their payment information or utilize a mobile payment service such as Apple/Google Pay to finalize the transaction.

As an alternative, the merchant can scan the QR code on their customer's phone. The bank or payment program provides this code, which comprises card information that the company may utilize to complete the purchase.

App-to-app payments can also be facilitated through QR codes. Both the payer and the payee may open their respective apps and scan the payee's QR code, confirm the amount to be paid, and execute the payment.

The fastest way to settle the bill: FineDine

QR code for mobile app payments.

FineDine, which we may refer to as a new-generation menu design platform, is a crucial tool for businesses to measure what functions well and what doesn't, to receive immediate consumer feedback, and to include digital payments. You can create your digital menu using a simple tool like FineDine and provide your guests with a brand-new dining experience that will allow you to provide better customer care. With its analyzing tools, FineDine will speed up service while also enabling consumers to leave your establishment happy.

With divide & pay choices, you may settle invoices in less than 10 seconds, turn tables more quickly, and boost customer satisfaction. Keep in mind that happier customers bring more tips!

Hassle-free payments

Help your guests to pay their bills with their phones by quickly scanning a QR Code. They can choose to pay for only a portion of the bill, the entire payment, or a custom amount. Save at least 15 minutes for each table, and preferably more for larger groups.

Accept Credit Cards & e-Wallets

We provide checkout available to all of your consumers by collaborating with top-tier payment providers. Credit cards, Apple Pay, and Google Pay are all alternatives for payment.

Capture Data

As soon as a guest make their payment, Fast Checkout records their names, emails, and purchase information. You may reward and engage your consumers by using this useful data.

Maintain traditional service experience

Despite the fact that we believe your employees do not need to recall all of the order items with sides, drinks, and special requests, you may maintain your typical service experience while delivering a streamlined payment method. Less time spent paying expenses equals more time for entertaining.

With all of these capabilities and more, FineDine is ready to meet you with smart solutions as well as the vision it will bring to your organization.