QR code payments have become increasingly popular in recent years due to the many benefits they offer. As you may have seen, companies have started to add QR codes to their invoices. Some companies have also started to have QR codes in-store so customers get the opportunity to pay directly with various apps.
A QR code contains all the information needed to make an invoice payment. The only thing the customer basically needs to do is read the QR code in their banking app. It only takes a few seconds. All payment information in the invoice is automatically transferred to the bank app when the QR code is scanned.
Until now, the QR code has mainly been used for advertising purposes, for example, to attract visitors to campaign pages and so on. But in recent years, the usage areas of QR codes have expanded and now include payments and banking.
The popularity of QR code payments can be explained by the numerous benefits that it offers. In this article, we are taking a look at the top 5 reasons your business should offer QR code payments.
1. Reduced errors
The risk of errors is significantly reduced when the customer does not have to provide OCR number, payment date, recipient, and more. All this is already gathered in the QR code.
The QR code contains all the payment information that the bank needs to be able to carry out the transaction. As the code is read via a bank app, the customer does not have to enter the payment information himself. In this way, the security for the payment increases, and you as the invoice issuer receive the payment on time.
2. Streamlined payments for your customers
With the help of the QR code, your customers can pay the invoice in a fast, easy and secure way. To pay the invoice using the QR code, your customer must have the following:
- mobile phone or tablet with camera function
- banking app that supports QR codes
You as the invoice want to make things as simple as possible for your customers. Your goal is to make their experience as good and frictionless as possible, from start to finish. And adding QR codes to your invoices is a great way to do just that.
3. Faster payments
When you make it easier for your customers to pay, you increase the chance of them paying, and paying on time. Friction is something that reduces the chance of your customers paying. But by making the process of paying as simple as possible, you reduce friction and make it more likely that your customers will pay, and on time.
Paying an invoice with a QR code is so simple and only takes a few seconds! The customer just scans the QR code and then approves the payment. It can hardly be easier than that.
4. Increases security
QR codes on invoices increase the security both for you and the customer.
The QR code contains all of the information necessary to make the payment. Since the information is automatically entered, the customer doesn’t have to enter the details themselves which may risk sending the payment to the wrong recipient, or that it bounces and doesn’t arrive on time.
Furthermore, when the customer scans the QR code, they are automatically taken to the secure page of the bank or the processing service, ensuring that your data is kept safe. You can, for example, connect to Centi to optimize QR code payments, so that your customers are directed to a safe and secure third party that securely handles the data and transaction.
5. It can streamline your invoicing process
By adding QR codes to your invoices, you can actually streamline the way you create, track, and follow your invoices. This can ultimately improve your whole invoicing process and save you both time and money. Using QR codes for your invoices doesn’t only make it more seamless for your customers but also for yourself and your company.