Digital Wallet: How QR Codes Can Be Used To Exchange Money

A QR code is a special image containing data that can be scanned by a mobile phone, tablet, or other sort of device. While designs can vary, they are typically square and made up of smaller black and white squares, almost like a jumbled up chess board. 

QR codes can be used to access all sorts of data, including URL links, text documents, images, social media pages, personal information, and much more. They can be found just about everywhere, including on posters, fliers, web pages, signs, parking meters, and even in various forms of media like TV and video games. 

QR codes can be used as an easy way to both send and receive money through a mobile application. This way, if one person wants to send cash over to another digitally, all they need to do is scan the code on the phone of the other user. 

This can be used in business settings, like in a store or retail stand to pay for goods and services, or in a more casual setting, like a friend giving a birthday gift or chipping in on a restaurant bill. Since the use of physical cash money is falling in favor of credit cards and digital exchanges, this is a perfect way to be able to share and exchange currency without the need for paper money or an expensive POS machine. 

There are loads of apps and services on both the Apple App Store and Google Play Store that use QR codes for cash transfer, but a few of the biggest and well known are Venmo, Cashapp, PayPal, and Zelle. Many big name bank apps, as well as Google and Apple wallets also allow for cash transfer, albeit without codes. 

Giving and receiving payment through these apps is a very simple process and essentially the same across all platforms. The recipient simply pulls up their personal QR code on their device, and the payer scans it with theirs. It couldn’t be easier!

In most cases, you don’t need to have your QR code accessible outside the app. But if you’re a content creator or someone looking for donations, then you can either print out or download your code and attach it to wherever you think patrons may see it. This can be a storefront, a personal web page, a digital tip jar, or any of the other locations mentioned previously. 

• Know your audience: If you’re certain that most of your intended audience doesn’t know how to use QR codes or just don’t like them, then don’t use them. 

• Keep instructions clear: Provide clear instructions on how to use and scan QR codes as well as where the codes will redirect to. 

• Place codes on a flat surface: To make sure that codes are still scannable, only put them on flat surfaces, like walls, tables, posters, or fliers. 

• Use high contrast: If using custom colors on a code, make sure that the colors are distinct enough from each other to be read as a QR code. 

• Make sure codes are visible: Don’t place codes where patrons are unlikely to see them. 

• Only use codes when necessary: If an alternative exists that’s easier for all parties involved, use that. 

• Test on multiple devices: Make sure your codes work whether scanned on an Android device, iPhone, tablet, or other device.

With the tools available on QR Code Developer, as well as other code generators, you can monitor the usage of any code you create. This can include how many times a code has been scanned, where it has been scanned, on what device, using what browser, and more. With these tools, you can figure out which codes are reaching the most people and where to focus any advertising efforts. 

With QRCodeveloper you can monitor:

• Number of scans
• Number of scans by operating system
• Scans by browser
• Scans by country
• Scans by city
• Scans by language
• Unique scans

Payment has become one of the most common usage of QR codes. They provide an easy way to exchange money for goods and services that’s hands free, can be done from a distance, easy to use, and already baked into most payment programs. If you have one of the apps mentioned above, then it’s likely that you already have a QR code you can use for payment. 

While the QR code you need for this purpose has already been created, if you need a code made for any other purpose, like for a business or personal project, then you can make your own right now with the free tools available from QR Code Developer. Get started today and see just how easy and exciting it is!