With the digitalization of society, new means of payment are gaining space. From the use of applications to QR codes, through digital wallets, biometrics, contactless devices or wearables with focus on the convenience of customers, which open new possibilities.
According to the study “Means of payment: QR Code – In the view of consumers and retail companies”, developed by the Brazilian Society of Retail and Consumer Affairs (SBVC) for its acronym in Portuguese and by the pollster AGP, 82% of retailers intend to adopt applications and QR codes as means of payment in the next 12 months.
“The use of applications and QR codes opens up new possibilities of interaction and knowledge of customers, in an economy increasingly moving to data, that is fundamental,” says Eduardo Terra, president of SBVC.
The study shows that payments via App (24%) and QR codes (17%) already appear with significant numbers as means of payment used in physical stores. In the study “New means of payment”, made by SBVC in 2018, payments via App appeared with only 4% and with QR codes did not even get answers. “The relevance of the means of payment is much more cultural than technological, its evolution will depend on the behavior of the next generations (digital natives) and their acceptance of more convenient means of payment, integrated into the smartphone or wearables”, explains Terra.
The study verified that, despite the use of QR codes by consumers, retail has not yet adopted that resource. The main barriers indicated are:
- The scarce use of the market (50%);
- Because it is difficult to implement (25%);
- The lack of information (25%).
To overcome this, retailers and payment solution providers must invest in the expansion of the network of stores that accept these means of payment. In addition, encourage their use by incorporating benefits such as discounts and punctuation in loyalty programs, which will make the barriers of ignorance and distrust toppled. “Consumers without the habit of buying online are less likely to adopt more innovative means of payment, the market moment or is still development, which is why the focus on the most digitized public tends to offer a better return”, analyzes the president of the SBVC.
The study listened to the most important segments of the retail trade in Brazil. Among them, supermarkets, fashion, furniture and appliances, department stores and food services. It also interviewed 500 consumers throughout the country, with 91% of them often making purchases online. The objective of the study was to quantify aspects related to the use of conventional and electronic means of payment, deepening means of payment accepted by the physical and online store, payment habits of consumers and payments via QR code in the companies’ view and of consumers.