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PayPal rolls out QR code payments

As consumers appear to be straying away from paying with cash as a result of the COVID-19 pandemic, PayPal has introduced QR code payments.
As consumers appear to be straying away from paying with cash as a result of the COVID-19 pandemic, PayPal has introduced QR code payments.

PayPal has launched Quick Response (QR) code payments in Canada for small businesses to accept touch-free mobile payments from their customers using the PayPal app.

From local stores to hair salons and farmers markets, this new functionality in the app allows customers to buy or sell in-person, safely and securely without needing to purchase any new equipment. To continue helping small businesses, PayPal is waiving the standard seller transaction fees on sales using a QR code through Sept. 30.

Canadian consumers are increasingly wary of using cash over fears that bills and coins could be contaminated.

A recent study from Payments Canada found that 62 per cent of those surveyed reported using less cash than they did pre-COVID-19. The survey also found 53 per cent of those surveyed reported using card or mobile tap payment for in-store purchases more often than pre-pandemic.

“We know buying and selling goods in a secure and health-conscious way is top of mind for people as the economy reopens and rebuilds. Throughout the pandemic, we have seen a surge in demand for digital payments to include safe and affordable solutions for in-person payments,” said John Kunze, senior vice-president of branded experiences, PayPal. “We are rolling out QR codes for buyers and sellers so they can shop and sell safely while social distancing. They do not need any new devices or expensive point-of-sale terminals; all they need is a PayPal account and their smartphone.”

For a buyer looking to pay, customers can go to the PayPal app, click ‘send’ and tap the QR code symbol in the top right hand corner. The camera will open, and customers can scan a seller’s QR code and follow the prompts to complete the transaction.

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