Mobile point of sale

After years of declining use, QR codes are coming back in a big way thanks to their simplicity in issuing and receiving payments.

In the last few years, merchant-presented QR codes have surged in popularity as payment methods — and their use is expected to continue growing over the coming years.

Researchers predict the total number of QR code payment users will exceed 2.2 billion people by 2025, up from 1.5 billion in 2020, according to Juniper Research. QR — or quick response — code payments are expected to top $2.7 trillion globally by 2025.

What are merchant-presented QR codes?

Merchant-presented QR codes are similar to scanning a product’s barcode at a grocery store.

But instead of a typical transaction in which you hand a cashier your product at checkout, a merchant-presented QR code allows businesses to present a QR code that customers scan with their phone. After scanning the merchant’s code, a customer can simply perform the digital payment through their phone. Once the customer enters the transaction amount, the merchant receives a transaction confirmation on their mobile app, which thus completes the transaction.

Merchant-presented QR codes are especially popular in Asia and other countries where mobile smartphone use is high and Internet access is ubiquitous. With static QR codes, a business will typically display a merchant-presented QR code on a countertop or menu via a decal, sticker, or piece of paper.

It’s now also common for businesses to offer dynamic QR codes. Dynamic QR codes are generated at the time of the transaction and displayed on the point-of-sale system or on the merchant’s mobile device via an app such as Pri-Num’s white-label application or SDK.

A dynamic QR code encodes all the data of the transaction and provides a better customer experience as it eliminates the need to enter a transaction amount.

Pri-Num mPOS solution features and benefits:

With Pri-Num mPOS, you c​​an expand your mobile payment services QR Code in accordance with EMVCo standards, which ensures overall interoperability, security and a consistent experience for merchants and consumers.

Pri-Num mPOS solution features and benefits:

We provide standard QR code specification across major payment networks, including Visa, Mastercard, Amex. In other words, merchants need only one QR code for these payment networks.

Our QR Code payment solution is based on a R2-42 mPOS Platform, which is compliant with EMVCo standards for QR Code formats.

Pri-Num’s solution can be operated in private hosting or as a SaaS product. It’s connected to national and international switches for open-loop payment systems such as Visa, Mastercard, or UnionPay International, or can be directly integrated into the account and transaction management system for a closed-loop payment system.

Our SDKs and white-label applications for the consumer and the merchant offer a quick-to-market solution.

Pri-Num’s SDK experience is built to be concise, adaptable, and encompass major card network’s key requirements. It can be tailored to fit your app payment experience, while also accelerating development time.

Our white-label applications are a cost-efficient solution to offer your customers a customized mPOS app.