QR Code payments users to reach 2.2 billion globally by 2025 representing 29% of all mobile phone users across the world

11 ianuarie 2021

As services expand beyond China & India, the total number of QR code payment users will exceed 2.2 billion in 2025, up from 1.5 billion in 2020, according to a new study from Juniper Research; equating to 29% of all mobile phone users across the world in 2025.

The report predicts that much of this growth will be within emerging markets, where weak card infrastructure creates a strong opportunity.

However, the research also found that the US will see a strong growth of 240% in user numbers between 2020-2025, as QR code payments tap into the need for cashless payments stimulated by the pandemic. The research identified PayPal’s roll-out of QR payments and its partnership with CVS as key drivers of the renaissance of QR payments within the US market.

For more insights, download the free whitepaper: QR Code Payments: Beyond China & India.


The new research, QR Code Payments: Key Opportunities, Regional Analysis & Market Forecasts 2021-2025, identified that QR codes’ ability to combine payments and loyalty make them ideal for retailers seeking to leverage valuable transactional data. The low-cost nature of these solutions will enable the growth of QR code payments to reach over $2.7 trillion globally in 2025.

Research author Nick Maynard explains: ‘QR code payments have low acceptance costs versus contactless payments, meaning that they are highly competitive and appealing to retailers in emerging markets, which lack card infrastructure. However, the low costs mean that accepting QR codes alongside cards is also viable. Partnerships in developing markets will be critical to driving QR adoption.’

The research found that national QR code payment standards, such as SGQR in Singapore, will be major accelerators to the growth of QR code payments.

By 2025, national QR code payment schemes will account for 22% of all QR code payments by volume, compared with just 8% in 2020. The research recommends that national regulators make QR schemes a priority, to ensure widespread digital payments adoption and interoperability of payment methods.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?