PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

QR Codes: A Solution for Unbanked, Popularized by COVID-19

David Nelyubin by David Nelyubin
February 19, 2021
in Analysts Coverage, E-commerce, Merchant, QR Codes
0
The Unbanked Population in the U.S. is Decreasing*

The Unbanked Population in the U.S. is Decreasing*

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Paytm is looking to roll out another 5000 dynamic qr+ devices in the market to gain more consumer insights and feedback from the merchants, Express Computer reported.

An already increasingly popular method of payment, utilizing the smartphone at POS, has shown an amplified trend in use due to COVID-19 around the world. Paytm, an e-commerce marketplace and financial technology firm headquartered in India responds with new Dynamic QR+ devices, allowing the merchant, as opposed to the consumer, to input a payment amount to automatically generate a qr code.

According to IBEF.org, the India e-commerce sector “will reach US$99 billion by 2024 from US$30 billion in 2019, expanding at a 27% CAGR”, led by Amazon India, Flipkart and Paytm. Already a leader in the India based e-commerce market, Paytm is providing its merchants value by modernizing their QR Code solution, originally deployed to accept payments from the second largest unbanked population in the world, with updates accelerated by COVID-19.

QR codes are not only increasingly adopted in India, but in the United States as well.

Mercator Advisory Group has been monitoring the rate of payment behavior change as a result of COVID-19 in the U.S, reporting that “41% of those who have used QR codes in the past indicate they use them more or much more due to COVID-19”.

Overview by David Nelyubin, Research Analyst at Mercator Advisory Group

Tags: Covid-19e-commerceIndiaMerchantsQR CodesUnbanked
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    open-banking Data-Sharing as a Solution to Cash Flow Issues standa

    Disjointed Open-Banking System in U.S. Leaves Opening for Permissioned Data Providers

    September 29, 2023
    FedNow

    FedNow Could Mean a Renaissance for Smaller Financial Institutions

    September 28, 2023
    Best Merchant Practices for Dealing with Supply Chain Disruption

    Nearly Half of Merchant Data is Probably Wrong. Here’s Why it Matters.

    September 27, 2023
    Mitigation of P2P Fraud Begins with Education

    Mitigation of P2P Fraud Begins with Education

    September 26, 2023
    digital payments

    Mass A2A Payment Adoption in The U.S. Contingent on Compelling USP

    September 25, 2023
    cashless payments mobile

    The Synergy Between Cashless Payments and Seamless Mobile Coverage

    September 22, 2023
    The Power of AI and How its Transforming the Financial Landscape

    The Power of AI and How It’s Transforming the Financial Landscape

    September 21, 2023
    “You’re a Fintech, I’m a Legacy Bank – How Can We Collaborate?”

    Investing in Fintech: Opportunities and Challenges in the Payments Industry

    September 20, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result