How to collect
payments with QR codes?

Are you looking for a way to digitize your invoicing and automate payment collection? QR codes are a fast, simple and cost-effective payment solution, reducing human error when encoding, for example.

With Digiteal, you can be sure that your payments will be processed in a secure environment and operated by an actor authorized by the National Bank of Belgium. Want to find out more? Read more below…

What are payment QR codes?

Payment by Quick Response (QR) code allows users to simply scan a QR code displayed by a merchant using a smartphone or similar device in order to pay.

This initiates a secure transfer of funds from the user’s account to the recipient. It enables the payment process by eliminating the need for cash or cards. QR codes are multi-functional and can be used for various types of transactions, making them convenient for both consumers and businesses. They offer a fast, secure, and contactless payment solution in today’s increasingly digital world.

Context:

Frequently used in several sectors especially in Horeca, Wellness, Marketplaces, QR codes have evolved since their inception in the 1990s to become an essential tool in electronic payments.

As already mentioned in our recent blog post “Pay by Link”, these virtual payment methods have grown exponentially over the last 10 years, including during the Covid period.

Their increasing adoption and impact on financial transactions attest to their effectiveness and potential to revolutionize global commerce. This article showcases QR code payments’ components, highlighting their unique advantages, demonstrating concrete use cases and impact on the global financial ecosystem.

Advantages of QR code payments

Convenience:

QR codes simplify the payment process, requiring only a smartphone with a camera and a payment app.

Speed:

Transactions are typically faster compared to traditional methods like cash or card payments.

Security

Payment QR codes use encryption and tokenization, reducing the risk of fraud or identity theft.

Cost-Effectiveness:

This solution reduces the need for physical infrastructure such as card terminals or cash handling, helping businesses to save money.

Accessibility:

QR codes enable transactions even in remote areas with limited banking infrastructure.

Integration:

QR codes can be seamlessly integrated into various platforms and systems, enhancing the overall payment ecosystem.

How does a payment QR work?

PAPER INVOICES

Payment QR codes can be generated on paper invoices by:

- Municipalities sending taxes to citizens
- Schools sending invoices for the extracurricular fees
- Water company sending invoices for the water consumption
- Energy suppliers etc.

TABLET PAYMENT

Payment QR codes can be generated on tablet payment solution by:

Repair & maintenance jobs: the professional needs to get pay once he finishes the job on site by the consumer
Delivery services requesting payments on site
Events organization to sell tickets (for ex: on site)
Police requesting immediate payment to pay a fine

Use case 1: Paying by QR code printed on a paper invoice

Paying by QR code on a paper invoice involves the following steps:

The customer receives a paper invoice on which is a unique payment QR code.
He launches his favorite banking application on his smartphone.
He chooses the “scan QR” feature to scan the QR code on the invoice.
He confirms the payment by using a PIN, fingerprint or other methods.

Use case 2: Paying by QR code generated by the supplier

Ajusto’s use case:

A Digiteal customer since 2020, their main requirement was to be able to generate a payment QR code on the smartphones of their 200 service providers.

Ajusto is a marketplace that connects private individuals with a qualified (and verified) local contractor for home repair, maintenance and installation requests.

Depending on the type of work to be carried out (boiler repair, electrical installation, etc.), a professional will visit the customer. Once the work has been completed and before leaving the premises, the professional asks the customer to pay the balance and/or the entire invoice via the Ajusto application.

Ajusto wanted to be able to generate a payment QR code in its business application, via a tablet, so that the customer could scan it via their smartphone and proceed with payment. Equipping each independent specialist with a payment terminal was too costly and logistically inefficient an option.

Payment is now 100% digital, secure and fast. The main added value: immediate payment has a positive effect on collection.

To recap the process:

A unique payment QR code is generated through the Digiteal API and presented on the Pro’s tablet.
The customer scans the QR code with their banking application or via a QR reader.
The customer pays using the method of its choice.
The Ajusto Pro immediately receives confirmation that the payment has been validated.

Tip: as a back-up, the Pro can trigger the sending of an invoice by email with a payment button.

“We are delighted with the solution implemented by Digiteal, which fits in perfectly with the highly digitized experience we deliver via the Ajusto platform; from online booking of an intervention, right through to payment of the invoice.

What’s more, Digiteal was the only partner in Belgium enabling us to offer a payment framework adapted to our marketplace model, with transaction amounts transiting via the platform to maximize security and trust between the parties.

Their ability to think and implement tailor-made solutions therefore made all the difference.”

Olivier DelbecqueCEO Ajusto

Conclusion

Payment by QR code represents a pivotal element in enhancing your revenue collection tactics.

Its key benefits such as security, ease of use and flexibility meet the evolving preferences of both business-to-business (B2B) and business-to-consumer (B2C) parties.

As the trend towards digital transactions grows, the relevance and versatility of QR codes are set to grow even further, reinforcing their role in modern financial operations.