How To Collect Instant Payments With Scan And Pay
As the payment industry grows, cashless payments are also becoming more popular and for good reasons. They are fast, convenient, and more secure.
There are several cashless payment options available, and scan pay is one of them.
In this article, you will learn more about scan and Pay and how to collect instant payments.
What is a Scan and Pay Payment?
Scan and Pay is a digital payment option that allows customers to pay for their purchases by scanning a QR code using their mobile devices. It’s one of the simplest payment options you will find in the market right now. Considering that mobile devices are the most popular devices, this is also one of the most convenient solutions. All you need is a phone that has a camera and a perfect online payment gateway.
Some of the places you can use a scan pay include grocery stores, merchant outlets, eCommerce websites, and so many others.
What is a QR Code?
QR stands for Quick Response. A QR code is a two-dimensional code that you can scan to trigger actions such as an app download, social media profile, website visits, and digital payments, among other things.
A QR code looks like a barcode, but the two are not the same. A QR code can store far more information than a barcode. It’s more secure and can be scanned both on paper and the screen.
How Do Scan and Pay Work?
There are three ways you can use scan pay to collect instant payments. These are
1. Customer Scanning the Business’ QR Code using their Smartphones
Here, the customer will open their phone’s camera or the relevant online payment gateway QR code app.
After that, he/she will scan the code displayed on the paper bill, website, and store’s checkout, or on individual products, then confirm the total price before tapping to complete the payment.
In some cases, the customer might have to enter the card details manually to pay. Offers and loyalty points may also apply via the app if it’s a store-specific application.
2. Business Scanning the QR Code on the Customer’s Phone
Here, you will first confirm the total transaction price at your POS system before the customer opens the relevant online payment gateway QR code app. The app will display a QR code unique only to the customer’s card details.
You will need to scan this code using your QR code scanner to complete the transaction.
3. App-to-app Payments
Lastly, you have the app-to-app mode of payment.
Here, both you and the customer will open the relevant applications. The customer will then scan the unique QR code generated on your app through their own app.
Next, they’ll confirm the amount then tap to complete the payment process.
Why Use Scan and Pay?
Scan pay and QR code payments come with several benefits that can help generate customers and grow your retail business. Here are some of them.
- Instant Payments
One of the top reasons why you should use QR codes is that they facilitate instant payment. QR code payments are so much faster and easier to use than other methods of payment. All the customer has to do is open the relevant app, scan the code, and confirm the amount then tap to process the payment. That will only take a few seconds, and the transaction is complete.
- Top-grade Security
Something else to love about scan pay and QR code payments is that they are secure. The QR code is just a tool necessary to exchange information between you and the customer. Other than that, any data exchanged is usually encrypted, making the payment completely secure.
- QR Code Payments are Easy to Set Up
In addition to the security, QR code payments are easy to set up. All you need is a printed or electronic QR code and a mobile device with a camera, and you are good to go. Using QR code payments also eliminates the need for a POS system or any other special equipment to complete a transaction.
If you were in a dilemma about how and why you should use the scan pay mode of payment, I believe that now you have all the answers you need.