While the QR code was first invented for the automotive industry in Japan and patented by Toyota subsidiary Denso Wave, anyone can use QR codes as long as they follow the code standards.
QR code usage has exploded over the past half-dozen years, as multitudes of companies began using them for everything from advertising and promotions to merchandise tracking and coupons, and more. Consumers are increasingly using QR codes to access media on the Internet, download offers, find product information and more. QR codes have also started to be used for payments, with customers making payments by scanning a QR code and having the amount transferred directly from their account to the merchant, without the need for a POS terminal. While QR codes have been used for payments at Starbucks and other retailers for nearly a decade, they began to be used much more for payments when WeChat and Alipay in China started offering proprietary versions in late 2011. While it took some time for QR code payments to become popular in China, and the companies faced setbacks in 2014 when fraudulent QR codes caused the Chinese government to ban QR code payments temporarily, WeChat and Alipay strengthened their controls and QR code payments continued to gain traction.
Propelled by promotions by Alipay and Tencent, such as WeChat promoting QR codes to replace red packets for Chinese New Year, QR code payment volumes in China have exploded over the past three years.
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And along with encouraging potential business customers such as taxi drivers to use QR codes, Alipay has also marketed hardware products that support QR code payments.
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