An estimated 30% of smartphone users expected to use QR codes for making payments by 2025
QR Code payments provide a blend of convenience, speed, and security, making them an attractive option for both businesses and consumers.
But how exactly do you set this technology up for your business in order to start collecting payments with QR codes?
This article covers the process of implementing QR code payments for small businesses, including a step-by-step guide to setting up QR code payment, as well as our tips on educating customers on this payment technology.
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Mobile Point of Sale (mPOS) systems are revolutionising the way businesses handle transactions, offering flexibility and convenience by turning smartphones and tablets into fully functional sales terminals. This technology is useful to anyone who regularly accepts or processes payments, so read along if that sounds like you. But first, what does a POS system do?
Put simply, POS stands for Point of Sale. A POS system is the hardware and software that allows businesses to manage sales transactions and accept various payment methods. It has a credit card reader to accept payments so both businesses and customers can go through the checkout process efficiently when making purchases in store. POS systems come in all shapes and sizes, so in this blog we'll explain all there is to know about mobile point-of-sale (mPOS) systems to help you streamline your payment process.
What is QR code payment?
QR code payment, an advanced payment method, involves the use of a special type of barcode that stores information known as a Quick Response (QR) code
A QR code is a two-dimensional code readable by a camera, comprising black squares on a white background, and can hold a significant amount of data. This payment method leverages the ubiquitous use of smartphones and their built-in cameras to facilitate transactions.
Primarily, there are two ways in which QR payment systems function:
One involves the vendor displaying a QR code, which the customer scans to complete the payment. The scanner, usually a smartphone camera, reads the code and directs the customer to a payment platform. Here, they can select their preferred mode of payment, including debit/credit cards or mobile payment solutions like Google Pay or Apple Pay to finalize the transaction.
Alternatively, the customer can present a QR code containing their card details on their phone, in which case the vendor scans this code to process the payment.
QR code payment technology is rising in popularity due to its contactless, easy-to-use, and secure nature. It’s a solution that aligns well with the current need for minimal physical contact and quick, seamless transactions.
Step-by-step guide to setting up QR code payments for your business
Incorporating QR code payments into your business is a forward-thinking strategy that can simplify transactions, engage customers, and harness mobile technology's potential. Here is a comprehensive guide to setting up QR code payment for your business:
1. Selection of QR payment provider: The first step is to choose a reliable QR code payment provider. Several options are available, such as PayPal, Square, and Pebl . You need to consider factors like cost, customer support quality, implementation flexibility, and whether the provider's services align with your business needs.
2. Creation of business account: After deciding on a provider, you need to create a business account. The process usually involves providing relevant details like business name, contact information, and bank account details for transaction processing.
3. Generation of QR code: Once your account is set up, you can generate a unique QR code using provided tools or applications. Some providers such as Pebl allow customization of QR codes, enabling you to personalize the code with your business logo or specific colors reflecting your brand identity.
4. Displaying the QR code: After successfully generating the QR code, it needs to be placed in easily accessible areas for customers. For physical stores, the code could be printed and positioned near the checkout area, on your business cards, receipts, or even directly on the products. For Charities and events, the code can be placed on screens, posters or menus. For online businesses, the code could be placed on the checkout page, in transactional emails, or in digital invoices.
5. Staff education: It is crucial to train your employees on how to handle QR payments effectively. They should be equipped with necessary knowledge to assist customers and troubleshoot any potential issues.
6. Testing the system: It's important to carry out trial transactions before going live. Test to ensure that the code scans properly, leads to the correct payment page, and that transactions go through smoothly.
7. Launching QR code payments: After thorough testing and fine-tuning, your QR code payment system is ready to go live. Now your business can start accepting QR code payments.
Keep in mind that customer communication is paramount in rolling out this new payment method. Inform your customers about this safe and convenient payment option through in-store signage, website updates, email newsletters, and social media.
This not only informs them of the new payment method but also encourages its adoption, offering you an effective way to elevate customer convenience and accelerate your transaction processes.
Educating and preparing your customers for for QR code payments
As with any new technology or process, adapting to QR code payments might require some guidance and support from your side as a business owner. Effective communication is key in fostering your customers' understanding and acceptance of this new payment method. Here's how:
If your customers are unfamiliar with QR codes, take the time to educate them. This can be done through informative brochures, simple step-by-step guides, tutorials, or even short explainer videos demonstrating how to scan a QR code and complete a payment. Consider posting these on your website, social media platforms, or directly emailing them to your customers.
For physical stores, staff members should be trained and prepared to assist customers in payment processing using QR codes. A well-spoken, patient employee can help guide a customer through their initial transactions, assuaging any apprehensions associated with trying something new.
Offering incentives can be an effective tool to encourage adoption of QR code payments. Exclusive discounts, loyalty points or a one-off deal for transactions completed via QR code can motivate customers to try out this payment method.
Make sure to keep communication lines open to receive feedback from your customers. Be receptive to questions, concerns, or suggestions. This openness can help your customers resolve potential problems and builds their confidence in adapting to the new payment method.
Finally, as more and more of your customers get accustomed to QR code payments, ensure you keep them updated with any advancements or changes to your processes.
Implementing QR code payment is not just about setting it up and letting it run. It's about assisting customers navigate this change, and leveraging this new technology to improve customer satisfaction.
What are the Advantages of a Mobile POS System?
Here’s some key advantages of a mobile POS system. For more points, read our article on the 7 key benefits of mPOS devices.
- Mobility and Flexibility: Unlike traditional countertop POS systems, an mPOS system is portable, allowing businesses to move the terminal to wherever the customer is, enhancing the customer experience by reducing wait times and enabling more personalised interactions.
- Ideal for Businesses without Permanent Locations: The portability of mobile POS systems makes them perfect for pop-up shops, food trucks, and vendors at fairs or markets. Even service-based businesses like home repair or cleaning services can process transactions on-site without the need for complex setups
- Supports Multiple Payment Methods: Mobile POS devices can handle various payment options, such as contactless credit or debit cards, mobile wallets like Apple Pay and Google Pay, and even QR code payments, providing customers with better service and convenience.
- Industry-Specific Features: Some mPOS solutions are tailored to the needs of the food and beverage industry, allowing orders to be sent directly from servers to kitchens or enabling customers to place their own orders at the table.
- Lower Investment Costs: Compared to full-size POS terminals, mPOS systems require a lower initial investment, making them an affordable option for small businesses with limited budgets looking to quickly start taking payments.
- Enhanced Security: Mobile POS systems are designed with secure payment processing in mind. They handle the entire transaction within the mPOS terminal, ensuring no sensitive data is stored elsewhere, which enhances security and reduces risks for small businesses.
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