PayPal Rolls Out QR Code Payments to 28 Markets Worldwide | Finance Magnates

PayPal Rolls Out QR Code Payments to 28 Markets Worldwide | Finance Magnates

PayPal revealed today that it has launched payment by QR codes in 28 markets around the world, including the US, the UK, France, Hong Kong and Canada.

The QR code feature provides a touch-free way for businesses to receive payments and for consumers to make purchases during the current Covid-19 pandemic.

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The functionality in the PayPal app allows customers to buy or sell in in-person, without the need to exchange cash or key in PIN codes.

“The rollout of QR codes for buyers and sellers not only incorporates the safety, security and convenience of using PayPal in-person, but also takes into consideration ongoing social distancing requirements, even as we start to see some restrictions be lifted around the world,” John Kunze, SVP of branded experiences at PayPal, said in a statement.

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Safe payments in challenging times

Recent research from product and design agencies suggested that touch-free shopping and payments could be one of the lasting legacies of the Covid-19 outbreak, as consumers shy away from devices that require manual keying.

Using QR code technology, there is no technology to touch or purchase – users just aim a smartphone camera at a QR Code that is printed or present on another screen.

“Covid-19 has changed the shopping experience in the UK as we know it. The need for security and convenience is there, as always, but we now need to be able to sell and buy in a way that is quick, safe and involves limited social contact,” Lisa Scott, senior director at PayPal, noted.

QR code (Quick Response code) is the trademark for a type of matrix barcode first designed in 1994 for the automotive industry in Japan.