It is no exaggeration to say that online payments and e-commerce revolutionised how we do business and live our daily lives. Although QR codes have been around since the 1990s, they have taken center stage since the start of the COVID-19 pandemic. Thanks to QR codes, we are able to take the convenience and benefits of online payments to a whole new level.

QR code-based payments provide greater flexibility to all players involved in the online payment journey. The latest payment solutions, in particular, offer a world of benefits not only for consumers but also for e-merchants, banks, and payment service providers in Europe.

White-Label Payment Solutions

Consumers and e-merchants alike benefit from white-label services like QR-code-enabling platforms. B2B companies like banks and online payment service providers can also reap the above-mentioned benefits by integrating white-label Value Added Services.

Established businesses that partner with platforms offering white-label solutions benefit in their processing of payments. These businesses process payments under their name or branding, using the platform’s services and technology.

The result is the removal of payment friction, a selling point of any platform offering payment solutions worthy of patronage.

How We Can Help

Our payment platform and solutions incorporate state-of-the-art tools and handy features that would pass even the most discerning banks and payment companies. Using our system, banks can deliver advanced transaction services to e-merchants, ensuring a smooth and streamlined experience for both the seller and buyer.

Meanwhile, payment services providers can use our platform to create a competitive payment business. Aside from the standard payment capabilities, they can enjoy interoperable or cross-border payments across Europe as well.

Grow Your Business with a 3rd-Party Payment Platform

Here are a few benefits banks and online payment providers get by partnering with a third-party:

  • Fully white-label platform: Your logo and branding on our customised payment solution and gain the support of our technical experts.
  • Reduced development costs: Use a platform that has already been tested and proven to work, which reduces your development, hosting, and managing costs.
  • Integration with different bank apps: Easily integrate with third-party bank apps and support different payment methods.

On the merchants’ side, QR code-based payments allow them to bridge online and in-store transactions. They can reduce check-out times and lines, allowing them to focus on providing greater customer service.

With just one QR system, they can keep track of transactions and inventory changes from purchases made in real-time through their brick-and-mortar stores and online shop.

Hassle-Free Customer Journey

Lastly, consumers enjoy a frictionless shopping or payment experience. Armed with only their smartphone, they can comfortably shop online in the comfort of their own homes or purchase their desired products after seeing and trying them in person at the store.

A quick and simple QR code scan kicks off the online or mobile payment journey. Whether the QR code is a static one printed at a store’s checkout counter or displayed on the online store’s checkout page, using a QR code ensures a hassle-free payment transaction.

Moreover, QR code-based payments make it easier for consumers to move through different points of the shopper’s journey. A printed QR code on a magazine or beside items in the grocery store allows them to quickly purchase their desired product.

Shaping the Future of Payments Together

It is undeniable that QR codes are one of the best payment methods any merchant or bank can offer to consumers. It ensures fast, easy, interoperable, and touch-free payments both in-person and via online or mobile. But Payconiq is more than QR-code payments.

In the end, it is this greater convenience and safety that encourages purchases and ultimately drives your business forward. Interested in scaling your business with our payment solutions? Talk to one of our experts.

Sources:

https://www.statista.com/statistics/983737/number-mobile-contactless-payment-users-worldwide/

https://www.adyen.com/blog/three-ways-QR-codes-are-changing-touchless-commerce

https://www.kansascityfed.org/research/payments-system-research-briefings/developments-qr-code-based-mobile-payments-east-asia/

https://www.ecommerce-nation.com/%E2%80%8Chow%E2%80%8C-%E2%80%8Cto%E2%80%8C-%E2%80%8Cintegrate%E2%80%8C-%E2%80%8Cqr%E2%80%8C-codes%E2%80%8C/

https://www.juniperresearch.com/infographics/qr-code-payments-statistics