Nowadays quick response (QR) code is getting most popular payment method in Sri Lanka.
What Is a Quick Response (QR) Code?
- Quick response (QR) codes are square-shaped matrices of dark or light pixels used to encode and quickly retrieve data using computer devices.
- An enhancement on traditional barcodes, QR codes can store vastly more information and are used in a variety of applications from supply chain management to cryptocurrency wallet addresses.
- Several versions and variations of QR codes now exist that are customised to different purposes, or which can store greater amounts of data.
To understand this easily, let’s explore a popular QR code based payment enabler in Sri Lanka iPayOS.
A restaurant customer wants to pay the bill from the table using QR code.
Before anything, the restaurant has to be singed up with iPayOS payment gateway. If not, you can easily sign up using iPayOS Portal
How QR code based payment works?
How QR codes are generated by merchant?
iPayOS provides very easy steps to create QR codes for any merchant.
- Register in iPayOS Portal
- Go to My Business and Register your business
- Go to My Apps
Click on Shopping cart, where you can create any number of Point of Sales terminals where you will get separate QR codes for each terminals.
Benefits of using QR code payments
Making payment via QR codes is extremely quick as compared to other modes of payment.
It’s because the QR code is nothing but just a tool that is used to exchange information. Any data which is transferred via QR codes is encrypted thus making the payment foolproof secure.
Easy to set up
You don’t need much of an infrastructure. You only require a smartphone with a camera and a QR code which is either printed or in the electronic form.
The pattern of black boxes consists of unique data which enhances the reliability of the QR code payments.
Major use cases of QR code payments
QR codes offer easy payment solutions to several businesses. Let’s have a look at some of the major QR payments use cases.
- Fuel retailers
- E-ticket booking
- Toll payments
- Parking payments
- Street vendors
- SMEs (Small and medium-range businesses)
Explore iPayOS for more use cases they have and start using as quick as possible.