The outbreak of the COVID-19 pandemic has changed the landscape of businesses all across the world. Businesses have to transform from traditional to digital due to the lockdowns which were imposed during the period. It also forced businesses to carry out contactless operations with their customers to ensure their safety and security. Though many companies were transforming into digital, most remained non-digital due to various reasons. The most important reason was the lack of necessity, but the pandemic has allowed them to transform digitally. Even a roadside shop has become digital just by introducing a new tool called the Quick Response (QR) codes.
Now, people are not required to pay in cash rather they can scan to pay using the QR scanner. It has taken the digital payment industry to the next level by which payments are completed within seconds. QR code payments have benefited both online and offline businesses. Businesses now require a strong payment service to enhance the online payment experience of their customers. Though there are many convenient services, the QR code payments is considered the simplest and the most used system. Businesses can connect with online payment gateway like Zaakpay to get a QR code for all payments.
Let Us Learn About QR Codes
A quick response or QR code is a 2D barcode that contains black and white patterns in a box. It works when it is scanned using one QR code for all payments. It was first invented by a Japanese company in 1994. QR codes can be directed to a payment gateway, a company’s website, a review page, or a new webpage. It has helped businesses organize their processes by generating a QR code for a specific purpose. It is highly accessible since QR codes can be scanned in any direction. QR codes are considered a time-saving and convenient tool that helps both business merchants and customers.
The Role of QR code in Shaping the Online Business
- Contactless Transactions: QR code is most useful in digital payments. The last decade has seen a shift in the online payment industry with the high mobile penetration and widespread use of the internet. But it forced most small-scale businesses and shops to include QR codes only during the pandemic. Payment methods include cash and card payments, online payments, payments using QR codes, and cryptocurrency. Payments using the QR code are dominating the entire payment industry. Even payments using cryptocurrencies and digital wallets require QR codes. Customers are required to scan to pay using the QR code scanner app from their mobile for a better experience. Online businesses can create a merchant QR code with the help of payment gateways like ZaakPay. It can help augment contactless payments by the customers while shopping online.
- Help in Enhancing User Experience: Increasing the customer’s user experience is one of the most important objectives of the online business. An increased customer experience helps businesses get more customer interactions. QR codes are available in shopping apps, messaging apps, and payment apps. All information of the company can be easily accessed by its customers. It helps customers get the required information and improve their future shopping experience. This additional information about the businesses helps attract more and more customers into online transactions. In 2021, a gaming company used a QR code in a drone through which users could download the game when scanned from the ground.
- Help Businesses Get Reviews and Feedback: Customer reviews and feedbacks are considered the most element of the business. A survey shows 67% of online buyers are influenced by online reviews. Online business has improved the reviews and feedback of a product or service. Many companies use customer feedback and reviews to analyze their services from the customer point of view. QR code is the advanced level of receiving reviews and feedback from the customers. A QR code is printed on products, pamphlets, and manuals that redirect the customers to the review page when scanned. Customers have to scan and pay using one QR code for all payment in the scanner, from the image displayed. It improves the experience of its customers to provide their valuable feedback using the code, which only requires a few seconds.
- Increasing Mobile Payments: With the increasing technology, mobile users have increased rapidly. The overall mobile users around the world exceeded 6 billion in 2021. Even governments have started providing services digitally to their people to keep up with the increased smartphone. Businesses are also required to provide services that can be easily accessible with mobile phones. The popularity of online business was possible only through the online payments that were provided to the customers. Businesses could accept online payments from their customers using a single QR code. The merchant QR code could be scanned using a QR code scanner which directed the customers to make an easy online payment. Businesses were able to accept payment from various methods using Zaakpay.
- Help Businesses Have a Wider Reach: The growth of a business can be ensured only through a wider reach of its customers. Providing increased and flexible services will increase the spread of the business among its customers. Providing a QR code is helpful in many ways and is convenient to the customers. This will impact online businesses in many ways, from increasing user traffic to getting valuable feedback. In addition, QR code has high adaptability and flexibility ensures a higher reach of the business.
It is now clear that QR payments are assisting businesses to transform digitally. It is leading the market revolution by providing high flexibility and easy usage. It helps digital businesses provide valuable services to their customers thereby, accelerating business growth and development. It is often mistaken that QR codes solely benefit online businesses.
The reality is, it has enabled many offline businesses to transform them into online businesses. Many offline businesses have used QR codes in their shops and stores to allow easy payments from their customers. It has enhanced the way of providing better services to customers that have increased their reach. Businesses must make sure their content is better and also the website is responsive while using the QR code.
These are only a few ways by which QR code helps shape future online businesses. But the benefits of QR code are much higher when the right strategy is employed by businesses to increase their sales and profits. COVID-19 pandemic is an opportunity to revamp businesses through which growth can be ensured.
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