White Paper

QR Code Merchant Payments - A growth opportunity for mobile money providers

With a continued global increase in mobile phone adoption, it comes as no surprise that mobile payments and mobile wallets are also experiencing increased use; especially amongst the younger generations. Globally, digital payments are expected to reach an annual transaction value of USD 4.4 trillion in 2020, with 17 per cent CAGR through 2024. With growth rates like this, it is not surprising that merchant payments have captured the interest of many stakeholders, including Mobile Money Providers (MMPs).

In emerging markets mobile money providers are at the forefront of using QR codes. QR code merchant payments is seen as an attractive opportunity, many of the existing challenges remain and some new challenges present.

The report is intended as a resource for mobile money providers to unlock a significant business opportunity to adopt QR code-based payments with a particular focus on their interoperability to achieve scale. Find in this report to adopt and/or grow QR code merchant payments ecosystems:

  • Evolution of QR code payments - insights on the QR code merchant payments ecosystem and various initiatives around the world;
  • QR code development - highlighting key learnings from multiple initiatives around the globe and market size;
  • QR code merchant payments flow - assisting readers in identifying where they are in their respective journeys;
  • QR code merchant payments interoperability - describing QR code merchant payments in the context of an evolutionary journey;
  • QR code specifications in the world - insights and perspectives on some of the fundamental technical considerations of QR code-based merchant payments;
  • Call to action for Mobile Money Providers - insights and perspectives on the impacts and implications of some of the major QR code merchant payments trends.