In this increasingly cashless society, mobile payment systems are constantly evolving. One of the most prevalent developments in the past few years has been QR code payment systems.
With an easy-to-use interface and the ability to speed up payment processing and protect personal details, there are a multitude of benefits to using QR codes to make purchases.
eCloud4 is revolutionizing the QR code mobile payment system by providing a robust, convenient, and free cloud-based payment solution that benefits both the merchant and the customer.
Easy, safe, convenient, and free — are QR codes the future?
What is a QR Code?
QR is short for Quick Response. QR codes are machine-scannable images that can instantly be read using a smartphone camera.
How do QR Code Payment Systems Work?
A QR code payment system is a contactless payment method that involves scanning a QR code from a mobile app in order to make a purchase. It is an alternative to using cash, debit and credit cards, and other mobile payment systems like Apple Pay or Google Pay, which are connected to your bank account.
QR codes essentially function like POS terminals — allowing customers to scan a code with their smartphones and complete the payment on the spot.
For businesses, QR code payments represent a compelling way to process transactions with ease, and eCloud4 payment partners enjoy lower fees when compared to alternative digital methods.
Why Choose a QR Code Payment System?
In recent years, QR codes have risen in popularity — largely due to their short transaction time and high levels of security. The COVID-19 pandemic also played a major part in accelerating their popularity. While the pandemic may be over, many have grown accustomed to fast, convenient, contactless payments.
QR codes benefit both the merchant and the customer in the following ways:
- QR codes payments are secure: QR codes solve the problem of customers having to share sensitive information such as PINs or account numbers with strangers. They also solve the problem of public wifi connection breaches which can compromise systems like Apple Pay and Google Pay. Instead, a QR code simply links the customer’s mobile payment app to the merchant account.
- QR codes make customers feel safe: Hot on the heels of the COVID-19 pandemic, customers appreciate the ability to pay for things without having to touch shared surfaces. QR codes make shoppers feel safe knowing the only thing they have to touch is their own phone.
- QR code payments increase customer loyalty: From the make of their car to their allegiance to iPhone or Android, people are loyal to the brands they use — and this extends to their payment system choices, too. For some, this means if you don’t offer their favorite system, there’s a strong chance they’ll take their business elsewhere In fact, studies show that one-third of consumers who prefer paying with QR codes would not complete a purchase if that option were not available to them.
- QR codes are efficient: Mobile payment systems like Google Pay and Apple Pay can lead to ‘card clashing’ — an issue that arises when two or more payment solutions interfere with each other’s transactions, interrupting and canceling one or both. QR codes eliminate this threat so you can feel confident that each payment will be a seamless, stress-free experience.
Why Choose eCloud4 as Your Primary Mobile Payment System?
With a range of cash rewards for customers and a 2.3% processing fee for merchants, eCloud4 is making strides in the mobile payment industry.
Enjoy the ease of use and peace of mind that comes with using the most simple, secure, and affordable money management system on the market.
Join eCloud4 today and start revolutionizing the way you manage payments.
