QR codes are now working in Peru as a payment method where the person can make a purchase without using a card or cash.
Quick Response, known more commonly as QR code, is a square-shaped bar code capable of storing data. According to BBVA, they have become more popular for their simplicity. What began as a way to access URLs is much more today.
“Thanks to new technologies, these QR codes have evolved into secure, simple and fast means of payment, allowing the customer to make a purchase just by scanning the code with his/her smartphone, without needing a card or cash. At the same time, they offer retailers more options to make their sales, since with this bar code it is not necessary to use a point of sale.
In Peru, this new payment option was born as a way to democratize the means of payment in a country where 40% of the people are banked and 70% own a smartphone.
“In line with the digital transformation and the search to democratize financial services in Peru, BBVA Continental presented the incorporation of the QR code reader in Lukita, a tool located within the bank’s mobile banking that allows money to be transferred from cell to cell phone and, now, make payments with QR codes”, the bank informed on their website.
