PayPal Rolls Out QR Code Payments to 28 Markets Worldwide

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 Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and for consumers to make purchases during the current Covid-19 pandemic.

The functionality in the PayPal app allows customers to buy or sell in in-person, without the need to Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term 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.

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.