QR Applications - Quick Payment Processing

By Joe Barber, Chief QR Officer at the CodeZQR division of Computer Output Print & Internet (COPI)

As I am talking with people around the world about QR codes in one-to-one communications I am often asked, “What are the different types of applications for QR Codes?”  So this is the first in a series of articles looking at the different ways QR codes are used in one-to-one communications to leverage a company’s knowledge of their recipients to improve the recipient’s experience.

Today we are going to discuss Quick Payment processing.  While there are many ways to pay our bills electronically or over the phone today, many people still find the process less than ideal.  Regardless of whether we are processing the payment through our bank or a vendor directly, it typically takes several minutes to complete the payment.  You must login, find the page that you need inside the portal, enter your account number, enter your payment info which usually includes a billing address, the amount you want to pay, etc.

I still amazes me how much information we are usually required to provide which the company processing the payment should already know about us.  This results in a tremendous amount of wasted time by us the customers.  When trying to process the payment over the mobile web, it can also mean a lot of keyboarding on our mobile phone which, if you are like me, is not the most efficient process.

Now imagine having a Quick Payment QR code on your bill.  You pull out your cell phone which is always on and always connected to the internet, and you scan that Quick Payment code.  The code contains a URL to a portal and the necessary demographic information to process your payment.  You are delivered to the Quick Payment portal where you are asked for your PIN and delivered to a screen where you are welcomed and presented 4 options:

·       Pay my bill in full using my preferred payment account.

·       Change the payment account to pay my bill from.

·       Partially pay my bill from my preferred payment account in the amount of ____.

·       View the details of my bill.

Now with one click your bill can be paid in full.  The entire process takes less than a minute and the only input you required to key in is your PIN code.  And it is as safe as an ATM transaction.

The benefits for the company offering this service to their client are:

·       Shorter collection cycles

·       Better customer experience

·       Reduced delinquent accounts

·       Fewer collection costs

Most of these benefits deliver direct and quantifiable value to the company helping to demonstrate a clear ROI for QR codes in the one-to-one communications such as transpromo or direct mail.

Quick Payment processing is just one of the many examples of how companies are adding QR Codes to their one-to-one communications to leverage their existing knowledge about their clients to enhance and improve the customer relationship.

Please feel free to share other applications that you see or think of for QR Codes in one-to-one communications at jb@outputlinks.com and I will try and include them in my future posts.

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