Indian mobile wallet major, MobiKwik today announced that the company has observed over 400% increase in QR code transactions in this year. The company currently has over 1.5 million QR codes deployed across small and large retailers in the country. The growth of QR code based transactions is credited to the ease of deployment and usage.
“QR codes will drive digital payments in India and major use cases such as milk, grocery and small mom & pop stores have great acceptance for QR code payments. It is also an economical mode of enabling digital payments for merchants, and we feel that the arbitrage of convenience is driving this growth.” Vineet Singh, Chief Business Officer of MobiKwik said.
QR code payments received a boost post demonetization. MobiKwik currently powers QR code transactions across all major outlets of Mother Dairy, Amul, Verka, Haldirams and many other stores.
“We aim to enable over 5 million merchants with QR codes by the end of 2017.” Vineet added.