Payments giant PayPal may finally have found a way to get people to use QR codes.
The company announced today that it is introducing Payment Code, a new technology intended to enable shoppers to make purchases by scanning a QR code on their mobile phone, or receive a short four-digit code on their phone, to complete a purchase.
According to the PayPal blog, Payment Code is an extension of the company's offerings aimed at enhancing in-store payments. "Our approach isn't to push technology for technology's sake, but to truly make the paying experience better for consumers and to give merchants more opportunity to innovate without a costly investment," PayPal Vice President of Retail Services Don Kingsborough wrote. "Payment code is easy to use and understand and utilizes a ubiquitous technology that merchants have and are familiar with.
When shoppers are ready to pay, they open the PayPal app (or the specific merchant's app) and check in at that location, which will result in the app prompting them with a QR code, or a four-digit short code, to authenticate their purchase.
If the merchant has a barcode or QR code scanner, the merchant scans to complete the transaction. If the merchant doesn't, then a four-digit code pops up on the shopper's phone that can be entered into the PIN pad at checkout.
Learn more about mobile payments in retail.