- QR code payment technologies enable users to make digital transactions by scanning a code through a mobile device, offering a low-cost, efficient, and contactless alternative to traditional payment methods. These systems are widely used in P2P transfers, retail payments, e-commerce, and public services, enhancing convenience and accessibility
- The surging demand for QR-based payments is primarily driven by increasing smartphone penetration, expansion of mobile internet access, and growing support from fintech platforms and governments. The simplicity of QR integration and its compatibility with both smartphones and POS systems are further accelerating market adoption across global economies
- North America dominated the quick response (QR) code payment technologies market with a share of 39.5% in 2024, due to the high penetration of smartphones, digital wallets, and mobile banking across the region
- Asia-Pacific is expected to be the fastest growing region in the quick response (QR) code payment technologies market during the forecast period due to rapid smartphone adoption, government-backed digital economy initiatives, and widespread merchant acceptance
- Proximity payment segment dominated the market with a market share of 61.9% in 2024, due to the growing adoption of smartphones with built-in QR scanning capabilities and the increased acceptance of contactless payment solutions among retailers and consumers. The widespread integration of QR payment options into point-of-sale (POS) systems and digital wallets has enabled consumers to make quick, secure transactions without physical contact, aligning with post-pandemic hygiene preferences and digital convenience
