QR Code Payments Users Is Expected to Surpass 2.2 Billion within Next 5 Years: Report
A recent study released by
Juniper Research has revealed that the total number of QR code payment users is expected to surpass 2.2 billion within 5 years, which is up significantly from 1.5 billion in 2020. This would be almost 30% of all mobile phone customers across the globe (by 2025).
The
QR Code Payments: Beyond China & India Whitepapernotes that most of this growth in adoption will be found in emerging markets, where weak or poorly-managed payment card infrastructure presents a good opportunity.
But the research also revealed that the United States will experience solid growth of 240% in user numbers in the next 5 years, as QR code payments begin to tap into the requirement for cashless transactions stimulated by the Coronavirus crisis.