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Different Types of QR Code Payments on the Market

May 4, 2023
Caroline Solomon

There are a variety of payment processors and apps that leverage QR codes to process payment. Whether you’re a small business or personal contractor, QR codes are an easy, seamless way to collect payments faster. Establishing more efficient payments and transactions leads to a happier, repeat customer. The best part is that Flowcode allows you to set up QR payments instantly–and for free.

In this post, we’ll also walk you through some other payment apps using QR technology, how to create a QR code for payment, and the pros (and cons) of QR code payments. Let’s dive in!


How QR Code Payment Works

When a customer scans a QR code, they will be rerouted to a payment page, where they can either manually enter their payment details or use a mobile solution like Apple or Google Pay. The QR code operates as a POS (point-of-sale terminal), except with QR codes, your Smartphone essentially functions like your credit card. 

Overall, QR codes are an excellent way to reduce overhead costs and bypass extra hardware needed to process payment.

How to Use a Credit Card for QR code Payment

When it comes to credit card payments, customers can scan a merchant’s QR code directly with their phones. They can connect their credit card to a mobile wallet like Apple Pay to complete the transaction, or enter their credit card details manually. 

There’s no doubt that QR code payments are significantly on the rise, as they are a frictionless and universal tool. Given the inherent portability, low overhead cost, and ease of use for customers, businesses large and small should definitely consider using QR code payment.

qr codes for payments

Most Popular QR Code Payment Apps in 2023

1. PayPal

If you use a service like PayPal as a vendor, it’s a breeze to link it up to a QR code (hyperlink). Your customer will then scan the code and enter the payment amount using the PayPal app directly from their phone. 

Since the PayPal QR code app is not dynamic and remains the same, it’s the perfect solution for small businesses operating with small orders and inventory.

2. Stripe

Stripe also has QR code technology, which allows you to create both static and dynamic codes. You can transform any payment link into a QR code from the Stripe Dashboard. Then simply copy or download an image of the QR code, which does not expire.

3. Venmo

Venmo offers seamless ways to accept and pay payments using a Venmo business profile. Business owners can display a QR code in their storefront or include it at the point of sale to collect payment. Note that the Venmo app charges a 3% fee for a credit card transaction.

To personalize your QR code even further, you can swap out your more humdrum Venmo QR code for a snazzier one from Flowcode. Simply create your Flowcode, and link it up to your Venmo profile. 

4. Cash App

Another popular form of QR payment, Cash App Pay allows customers to pay both in-person and online merchants by scanning a QR code. To use Cash App Pay, customers do not need to have a linked bank account. Instead, funds come directly from their Cash App balance.

To pay using the Cash App QR scanner, tap the QR scanner in your Cash App, then simply scan the QR code at the point of sale.

5. Zelle

The Zelle Pay QR code is another fast and easy way to pay for goods and services using QR code technology instead of typing your email address or phone number. To share your QR code with a recipient, open your Zelle mobile banking app, then click on the QR code icon at the top of the ‘Select Recipient’ screen. Then simply point your smartphone at the recipient’s QR code, enter the exact amount owed, then hit send. Voila!

6. Flowpage 

In case you’re not familiar, Flowpage is a customizable landing page that allows your customer to connect with all the things you care about with the click of a link. If you’re a small business or personal contractor, Flowpage is a great central hub where you can add multiple payment options like PayPal, Venmo, Stripe, and/or Zelle and more. In fact, Flowpage has a pre-customized payment template, which you can find here in our templates page.  

What are the advantages of QR code payments?

  • QR codes are an affordable, convenient way to take payments as a vendor. Simply set up an account with your payment processor of choice and then create a code. 
  • Overall, QR codes expedite the payment process compared to more traditional forms of payment, like cash or credit card. In fact, consumers no longer have to worry about fishing out a credit card or carrying their wallet. Whether it’s a boutique jewelry store or a local gas station, now the consumer can simply scan a QR code using their smartphone.
  • With the increased adoption of contactless payment in the wake of COVID, QR code payments make shoppers feel more at ease knowing they only have to engage with their phone.
  • Another major benefit of using QR codes over credit cards for payment is safety and security. In particular, Flowcode is the safest QR code on the market, and is compliant with all domestic and international privacy regulations. In the wake of many credit card company data breaches, QR code payments offer significantly more security and safety.
  • Finally, a recent study has shown that one third of consumers who prefer paying with QR codes would not complete a purchase if the option were not available. It literally pays to set up QR code payments as a vendor to establish and build customer loyalty.

What are the disadvantages of QR code payments

While QR code payments have many advantages, there are some disadvantages worth mentioning. QR code payments can sometimes be undermined by fraudsters, who can apply fake QR codes to be scanned at regular check out spots. For this reason, it’s important to work with a secure QR provider like Flowcode, which is constantly monitored by automated and human safeguards. That’s why over 70% of the Fortune 1,000 chooses Flowcode over its competitors. 

To learn more about why QR security is important, check out our related blog posts on QR privacy and staying safe from fraudulent QR codes.

Ready to get started with your custom Flowcode? 

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