Payments News

Retailers are doing more with QR codes amid the coronavirus pandemic

Sep 23, 2020

The humble QR code — invented for automobile manufacturing in 1994 — had been on the rise as a payment method for many years, but the pandemic expanded its use in the U.S. in some unforeseen ways.

CVS is readying 8,000 stores to accept PayPal and Venmo via QR codes this fall, creating another contactless payment option beyond NFC and its mobile app. This gives consumers another way to bypass touching cards, cash and payment terminals.

Beyond what CVS is doing, thousands of restaurants that recently introduced QR codes as a way for consumers to access a touchless menu are looking to add ordering, payments, loyalty and other marketing elements to the experience of scanning a QR code with a smartphone.

By Kate Fitzgerald

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