1. Introduction & Market Status
1.1 Introduction
Juniper Research defines a Quick Response (QR) code payment as follows:
‘‘A Quick Response code is a two-dimensional barcode, read by a smartphone camera, capable of storing large amounts of data. A QR code payment is a form of contactless payment that allows a transfer to be performed by scanning a code. Static QR codes require the customer to enter their payment amount, whereas dynamic QR codes allow the merchant to control the requested payment.”
1.1.1 History of QR Codes
The QR code was invented in XXXX, by Masahiro Hara from the Japanese company Denso Wave, for labelling and tracking automobile parts during manufacturing. This came about from a request from many businesses that utilise barcode scanning as a means to lighten workload; wanting a code that contained more information as well as the capacity to code Kanji and Kana characters on top of the alphanumeric ones. The practicality of a QR code went beyond this function due to QR codes holding up to Xkb of data in a single code, with said codes holding the same amount of data as the commonly used barcode, but only using X/XX of the space. The practicality of QR codes as a definitive scannable code - due to the convenience of scanning QR codes at a distance and at an angle - with data correction capabilities means that the intended purpose of the code can still be carried out even if any damage is faced. From this point of inception, QR codes were widely adopted across manufacturing, but also in grocery stores in Japan and inventory management solutions in China.
QR Code Payments
£3,250
$4,420
€3,803
QR Code Payments comprises of:
5-year forecasts- 8 regions and 60+ country-level data splits
- Market segment data splits
- 12 months of continuous data updates
QR Code Payments
£3,250
$4,420
€3,803
QR Code Payments comprises of:
- 5-year forecasts
- 8 regions and 60+ country-level data splits
- Market segment data splits
- 12 months of continuous data updates
EXCEL
ONLINE
PDF