What is QR Code Payments introduced by Paypal?

What is QR Code Payments introduced by Paypal?

QR Code also known as a Quick-Response Code – is a two-dimensional barcode that you can scan with the camera on your smartphone or with QR-code reader apps. Once scanned, the QR code redirects you to a website or other destination.

 QR code payments to enable touchless commerce introduced by Paypal recently makes the ability to use QR codes to buy and sell goods in 28 markets around the globe. From farmers markets to selling secondhand goods – the rollout of the QR code functionality in the PayPal app allows customers to buy or sell in-person, safely and securely, and touch-free.

QR code was introduced by Paypal seeing the surge in demand for digital payments in Covid pandemic times. rollout of QR codes for buyers and sellers incorporates the safety, security and convenience of using PayPal in person and enables ongoing social distancing requirements and safety preferences for in-person commerce.

Using a QR code to accept payments works in the same way. You can create a PayPal-generated QR code for your business. When your customer is ready to pay, he simply scans the barcode, which will redirect him to his account with PayPal. He logs into his account, enters the amount to pay, selects his funding source – like a bank account, credit or debit card – and completes the payment. 

Additionally, to continue PayPal’s efforts in assisting their customers during this challenging period, for a limited time, PayPal is waiving its standard seller transaction fees incurred on sales conducted using a QR Code.

Touch free buying and selling

Using the QR code functionality in the PayPal app is a quick and safe way to complete a transaction in-person utilizing a PayPal wallet, eliminating the need to handle cash. Like a person who are selling items in-person at a farmer’s market can print a QR code, place it on their table and have their consumers simply scan, enter the amount they’re paying and send money immediately. This allows the seller to minimize physical interactions with the customer while also limiting the customer’s interaction with checkout technology. There is no technology to touch or purchase – just aim a smartphone camera at a QR Code that is printed or present on another screen.

PayPal is rolling this functionality out to 28 markets around the globe including Australia. The other countries who benefit from this service include Austria, Belgium, Canada, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Italy, Latvia, Luxembourgh, Malta, Netherlands, Portugal, Solvenia, Slovakia, Sweden, Switzerland, Spain, UK and the US.

How to set up PayPal QR Code?

Create a QR code from the PayPal Business app

Download the latest version of the PayPal Business app on your smartphone or tablet. Open the app.

From the Home screen, click the More icon in the menu at the bottom of the screen.

In the expanded More menu, click QR Codes to generate your unique barcode.

On the intro screen, click View Your Code.

Click Save to Camera Roll to save it as a photo on your device.

The PayPal app will ask to access your photos. Select OK.

Print out your QR code and display it in your storefront, at your checkout, or attach it to deliveries and order pick-ups.

If you downloaded your QR code directly, then you’re already set up. You can start using your code to receive payments straight away.

To download the QR Code, make sure you are using a compatible browser such as Chrome, Safari, Firefox, or Microsoft Edge. Then, click the ‘Generate Your QR Code’ button above and, after you’ve logged in, your code will be displayed. You then click ‘Download Your QR Code’ to download the code to your device. To search your QR code once you downloaded it can vary depending on your browser and operating system. The best way to find your code is to use your device’s search function and look for ‘qrcode.png’ in your files.

If you ordered printed QR codes, then you’ll first need to scan each code you received to permanently link it to your account. After that, you’re all set.

Remember, you can’t use your code to send payments to yourself, so if you scan your code after it’s already been linked to your account, you’ll get a message letting you know that your code is already set up.

Create a QR code from the web Navigate to https://www.paypal.com/us/webapps/mpp/qr-code-download

Click the Generate Your QR Code button at the top of the page.

Log into your PayPal account.

Once the page reloads, click the Download Your QR Code button. Your barcode will download to your computer as an image file. ­­

Save your QR code, print it out, and display it in your storefront, at your checkout, or attach it to deliveries and order pick-ups.

 Note that your QR code doesn’t expire. You can continue to use it indefinitely.

For sellers, transaction fees on QR code payments are temporarily waived through 10 August 2020 to help businesses impacted by COVID-19. Starting 11 August 2020 you’ll pay a low transaction fee when your customers pay you. For buyers, making a payment via QR code works like sending money through the PayPal app. It’s always free for buyers when they select Goods & Services.

Also you don’t need additional apps to scan your PayPal QR code.

If you are using several QR codes you can check the account that each QR code is linked to by scanning the code with your PayPal app. If you see the message ‘This code is already set up’, the QR code is already associated with the PayPal account you’re currently logged in to.

How customers with an account with PayPal can pay you?

Your customers will need an account with PayPal to pay you. To pay, they simply open their PayPal app (available in the Apple App Store and Google Play) and select the Scan to Pay option.

Download the latest version of the PayPal app (version 7.21.1) on your smartphone or tablet. Open the app.

From the Home screen, click the More icon in the menu at the bottom of the screen.

In the expanded More menu, click the Scan to Pay option.

The PayPal app will ask to use your device’s camera. Select Allow.

Scan the barcode.

Click Send Money.

Enter the amount to pay and click Next.

Click Send Now.

Ask your customer to show you their confirmation screen, so you can confirm they sent you the correct amount and that the transaction is legitimate. You’ll see the transaction in your PayPal Business account or in the PayPal Business app listed under Activity. If you have push notifications enabled, you’ll see a notification that the payment was received.  That’s it! You can now share your unique QR code with your customers.

How to use QR codes?

How you can use QR codes to sell your products and services, remember whatever the use case, remember to ask your customer to show you their purchase confirmation.

  • Post a QR code in your store window: If you have a physical storefront, you can print a QR code that’s specific to your business and put it in your store’s window. 
  • Post a QR code at the point of sale in your store: If your physical storefront is still open, you can print your unique QR code and post it at your checkout counter. When your customers are ready to pay, they can simply scan the QR code with their smartphone and pay you without having to interact with your point-of-sale terminal. 
  • Attach a QR code to deliveries or packages: For businesses providing curbside service, attach your QR code to the packages your customers pick up. If your business offers a delivery service, you can attach your QR code to your deliveries. 
  • Collect tips for your services: If you run a business that relies on tips, you can share your QR code in lieu of accepting cash tips. 

QR Codes by PayPal are thus useful for business and sellers.

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