FASTER WAY TO PAY
The cashless trend in the new normal has given QR Code payments a push in the contactless ecosystem. It’s a payment method that lets customers scan a printed code using their mobile device’s camera that will automatically redirect them to the payment itself. Often placed at the counter or cashier area, it is com prised of black squares and bars on a white background. Due to its speed and simplicity, more and more retail shops are starting to use it.
In some consumer finance apps like Home Credit, you can conveniently pay for in-store transactions in their partner stores using QR and even earn a 1% rebate for every payment through their HCPay feature. In other apps, you can generate a QR code to either receive or send funds to or from your account.
Aside from QR Codes, other quick payment modes are also available to enable customers to pay instantly in just a few taps. One example are SMS payments wherein purchasers will send a text message to pay for an item or service. Once received by the mobile payment provider, the transaction between the vendor and the purchaser will be cleared.
Another one is payment links that you can click from an email, text message, social media, etc. in order to pay online. Other similar terms include pay by link, pay button or payment button which can vary depending on the payment provider.
They’re all easy and fast because you don’t need to use a card machine or enter bank details and card information. Using these methods, there’s no need to worry about loose change or carrying cash with you all the time.