NTT DATA, a leading IT services provider and its business partner Accourt Limited a leading payment consulting firm, are proud to have released a first-of-its-kind study commissioned by GSMA Inclusive Tech Lab, a global trade group for the mobile industry. The report QR Code Merchant Payments: A growth opportunity for mobile money providers to empower Mobile Money Providers an opportunity to engage better and serve their future customers.

Akihiro Ishizuka, Head of Global Payments & Services Division, NTT DATA, commented: "QR code technology has recently seen a resurgence due to the demand of contactless payments during the pandemic lockdown, and that surge is continuing. The insights we are sharing are allowing mobile money providers globally to access their resilience and guides where to focus on future success in these trying times."

The report provides a detailed study on QR code-based in payments, QR code developments and specifications globally. The research process involved interviews with industry experts as well as Accourt and NTT DATA syndicated research. The findings concentrate on:

• Evolution of QR code payments - insights on the QR code merchant payments ecosystem and various initiatives around the world;
• QR code development - highlighting key learnings from multiple initiatives around the globe and market size;
• QR code merchant payments flow - assisting readers in identifying where they are in their respective journeys;
• QR code merchant payments interoperability - describing QR code merchant payments in the context of an evolutionary journey;
• QR code specifications in the world - insights and perspectives on some of the fundamental technical considerations of QR code-based merchant payments;
• Call to action for Mobile Money Providers - insights and perspectives on the impacts and implications of some of the major QR code merchant payments trends.

According to Vaughan Collie, Managing Partner, Accourt: "Notwithstanding the continued growth of various payments modalities worldwide, COVID-19 has been another powerful force driving the rapid adoption and evolution of truly touchless commerce around the world. Innovative QR code payments technologies are at the heart of enabling this touchless commerce evolution and continue to be extremely well-positioned to thrive into the future. We look forward to the ongoing realisation of QR code payments technology potential globally and the many opportunities it will create as a result." 

The report is intended as a resource for mobile money providers to unlock a significant business opportunity to adopt QR code-based payments with a particular focus on their interoperability to achieve scale. Download the report here.