According to current FMI study, the QR code payment market is estimated to reach $11.67 billion by 2023. QR code payments are estimated to hit $55.6 billion by 2033, growing at a 16.9% CAGR between 2023 and 2033.

The Rise of QR Code Payments:

QR code payments have gained tremendous popularity, and for good reason. They offer a simple, secure, and convenient way to transfer money, make purchases, and conduct financial transactions. QR codes can be scanned using a smartphone, making them accessible to a wide range of users, regardless of their tech-savviness.

Get a Sample Report of the QR Code Payments Market:-

QR codes can also be readily encrypted to prevent fraud and unauthorized access. Moreover, QR code payments can be quickly connected with other electronic payment methods, including mobile wallets, to produce a smooth and secure payment experience. In response to the increased need for quick and secure digital payment methods brought on by e-commerce and online shopping, QR codes have developed as a vital technology.

Major Players Listed in this Report are:

PayPal Holdings Inc.
Google LLC
UnionPay International Co. Ltd
LINE Pay Corporation
Barclays
Revolut Ltd
Tencent
Square, Inc.
Alibaba.com
Ecentric Payment Systems
One97 Communications Limited (Paytm) & Others
Key Takeaway from QR Code Payments Market Study

Within the QR code payments ecosystem, push payments emerge as a dominant force. This section is distinguished by real-time, one-way payments initiated by the payer. The ease and immediacy of push payments contribute greatly to the overall rise of QR code payments, particularly in situations when rapid settlement is required.
Another important growth factor is the widespread use of QR code payments in the retail and e-commerce industries. Businesses in these areas are rapidly incorporating QR code payment alternatives, using the frictionless transaction experience they provide. The convenience of making transactions quickly and securely is transforming customer behaviors, propelling QR code payments to the forefront of the retail environment.
Recent Developments

In order to improve digital payment choices in the UAE, CCAvenue has launched cutting-edge QR code payment solutions that provide a seamless and secure transaction experience for both companies and consumers. CCAvenue’s launch of QR code payments provides clients in the UAE with a handy way to pay using their smartphones.
Fonepay and NIPL have launched an innovative QR code payment system as part of a concerted effort to enhance digital payments in Nepal and India. This strategic alliance intends to meet the rising need for quick and secure digital transactions by offering a user-friendly platform to consumers and companies in both nations.
Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights:

Key Players

PaymentCloud
Paytm
LINE Pay Corporation
PayPal, Inc.
Clover Network, LLC
Revolut Technologies Inc.
Nearex Pte Ltd.
ACI Worldwide
Key Segments in the QR Code Payment Market

QR Code Payment Industry By Offering:

QR Code Payment as Solution
QR Code Payment as Services
QR Code Payment Industry By Payment Type:

QR Code Payment as Push Payment
QR Code Payment as Pull Payment
QR Code Payment Industry By Transaction Chanel:

QR Code Payment for Face-to-face
QR Code Payment for Remote
QR Code Payment Industry By End User:

QR Code Payment for Restaurant
QR Code Payment for Retail & E-commerce
QR Code Payment for E-ticket Booking
QR Code Payment for Others
QR Code Payment Industry By Region:

QR Code Payment in North America Market
QR Code Payment in Europe Market
QR Code Payment in Asia Pacific Market
QR Code Payment in Latin America Market
QR Code Payment in the Middle East & Africa Market