QR Code Payment Market is expected to reach USD 35.85 Billion by 2030 : Cognitive Market Research

Market Overview:
- Introduction of QR Code payment
QR Code payment is a digital payment method that uses Quick Response (QR) codes to facilitate transactions. QR codes are two-dimensional barcodes that can be scanned by a smartphone or a QR code reader. They can contain information such as payment details, merchant information, and transaction amount.

Summary:
- The Global QR Code Payment Market size is expected to grow from USD 10.21 Billion in 2022 to USD 35.85 Billion by 2030, at a CAGR of 17.0% during the forecast period (2023-2030).

"To know more about The QR Code Payment Market statistics click here: https://www.cognitivemarketresearch.com/qr-code-payment-market-report

Market Dynamics:
- Factors Impacting QR Code Payment
The QR Code Payment Market is driven by the increasing popularity of QR code payment among merchants and buyers and the increasing use of smartphones worldwide is contributing to the growth of the market. Moreover, the increasing adoption of mobile payments is fuelling the growth of the market.

Market Segmentation:
Offering
• Solution
• Services
Based on the Offering, the Solution segment held the largest share in the year 2022 owing to the increasing adoption of mobile payment and wallet solutions.

Solution
• Dynamic QR Code
• Static QR Code
Based on the Solution, the Dynamic QR code segment accounted for the major share of the market in the year 2022 owing to their benefits such as versatility and convenience as a user can activate or deactivate the QR Code at any time and can monitor scanning activity.

Payment Type
• Push Payment
• Pull Payment
The push Payment segment dominated the market in the year 2022 owing to increasing popularity among consumers as it is faster and quicker because payers send both payment and money and helps to prevent fraud and unauthorized transactions.

Transaction Channel
• Face-to-Face
• Remote

End-User
• Restaurant
• Retail & E-Commerce
• E-Ticket Booking
• Others

The Major Players in QR Code Payment Market are:
PaymentCloud, UnionPay International, Clover Network LLC, Ecentric Payment Systems, Revolut Technologies Inc., PayPal Inc., Nearex Pte Ltd., Block Inc. (Square), ACI Worldwide, LINE Pay Corporation

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Regional Analysis:
- Asia Pacific is a leading region of the QR Code Payment Market
Asia Pacific held the largest share of the market in the year 2022 owing to the increasing popularity of mobile payment systems because they are fast, convenient, and secure. QR code payment is also commonly used for small-value transactions, such as buying snacks or paying for parking, as it eliminates the need for cash and makes transactions more efficient. Furthermore, the large and growing population and increasing penetration of smartphones are some of the major factors supporting the market growth.

News:
• Revolut launched QR codes to help businesses adhere to social distancing.
In February 2021, Revolut has launched QR code payments in a bid to help businesses adhere to social distancing measures. Revolut's aim is to offer touch-free, instant payments that can be processed using internet connectivity.
• PaymentCloud acquired contactless payments technology startup Paysley
In October 2020, PaymentCloud acquired a majority stake in the contactless payments technology startup Paysley. This acquisition consents PaymentCloud to combine its payment processing abilities with Paysley's contactless payment functionality. without needing to create an account, Paysley aims to transform any business owner's smartphone into a point-of-sale (POS) device.

Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global QR Code Payment Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 QR Code Payment Market Segmentation
1.5.1 QR Code Payment Market Regional Fragmentation
1.5.1 QR Code Payment Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of QR Code Payment Market
Chapter 4 Global QR Code Payment Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global QR Code Payment Market by Offering Segmentation Analysis (2018-2030)
Chapter 10 Global QR Code Payment Market by Solution Segmentation Analysis (2018-2030)
Chapter 11 Global QR Code Payment Market by Payment Type Segmentation Analysis (2018-2030)
Chapter 12 Global QR Code Payment Market by Transaction Channel Segmentation Analysis (2018-2030)
Chapter 13 Global QR Code Payment Market by End-User Segmentation Analysis (2018-2030)
Chapter 14 Global QR Code Payment Market Regional Analysis
Chapter 15 North America QR Code Payment Market Outlook (2018 - 2030)
Chapter 16 Europe QR Code Payment Market Outlook (2018 - 2030)
Chapter 17 Asia Pacific QR Code Payment Market Outlook (2018 - 2030)
Chapter 18 Latin America QR Code Payment Market Outlook (2018 - 2030)
Chapter 19 Middle East and Africa QR Code Payment Market Outlook (2018 - 2030)
Chapter 20 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)

To know more about QR Code Payment Market TOC click here: https://www.cognitivemarketresearch.com/qr-code-payment-market-report#table_of_contents

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Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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