What Is A QR Code And Why Do You Need One?

QR code is the trademark for a type of matrix barcode (or two-dimensional barcode) first designed for the automotive industry in Japan. A barcode is a machine-readable optical label that contains information about the item to which it is attached.

The QR code system was invented in 1994 by Denso Wave. Its purpose was to track vehicles during manufacture; it was designed to allow high-speed component scanning. QR codes now are used in a much broader context, including both commercial tracking applications and convenience-oriented applications aimed at mobile-phone users (termed mobile tagging). QR codes may be used to display text to the user, to add a vCard contact to the user’s device, to open a Uniform Resource Identifier (URI), or to compose an e-mail or text message. Users can generate and print their own QR codes for others to scan and use by visiting one of several paid and free QR code generating sites or apps. The technology has since become one of the most-used types of two-dimensional barcode

Virtual stores

During the month of June 2011, according to one study, 14 million mobile users scanned a QR code or a barcode. Some 58% of those users scanned a QR or barcode from their homes, while 39% scanned from retail stores; 53% of the 14 million users were men between the ages of 18 and 34.[20] The use of QR codes for “virtual store” formats started in South Korea,and Argentina, but is currently expanding globally.Walmart, Procter & Gamble and Woolworths have already adopted the Virtual Store concept

Code payments

QR codes can be used to store bank account information or credit card information, or they can be specifically designed to work with particular payment provider applications. There are several trial applications of QR code payments across the world.

In November 2012, QR code payments were deployed on a larger scale in the Czech Republic when an open format for payment information exchange – a Short Payment Descriptor – was introduced and endorsed by the Czech Banking Association as the official local solution for QR payments.

QR codes are commonly used in the field of cryptographic currencies, particularly those based off and including Bitcoin. Payment addresses, cryptographic keys and transaction information are often shared between digital wallets in this way

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