An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Juniper Research: QR Code Payments to Reach $3 Trillion Globally by 2025, with Integrated Loyalty Schemes Driving Market Value
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
According to a new study by Juniper Research, global spending on QR code payments is projected to exceed $3 trillion by 2025, up from $2.4 trillion in 2022, representing a 25% growth. Key drivers include enhanced financial inclusion in developing regions and alternatives to traditional payment methods. The report ranks Alipay as the leader in QR payments, followed by PayPal (NASDAQ: PYPL). The increasing adoption of national QR code schemes, particularly in India, is expected to significantly boost transaction values.
Positive
Projected increase in global QR code payment spending to over $3 trillion by 2025.
PayPal ranked second in QR code payment vendors, indicating strong market presence.
Growing transaction value in India from $62 billion to $125 billion by 2026 due to national QR code standards.
Negative
None.
BASINGSTOKE, England--(BUSINESS WIRE)--
A new study from Juniper Research has predicted the global spend using QR code payments will reach over $3 trillion by 2025; rising from $2.4 trillion in 2022. This growth of 25% will be driven by the increasing focus on improving the level of financial inclusion in developing regions and providing alternatives to established payment methods in developed regions.
Alipay Tops Juniper Research Competitor Leaderboard
The research reviewed the top 15 QR code payments vendors in the market and evaluated key factors that led to their respective success. The top 5 vendors were ranked as below:
Alipay
PayPal
WeChat Pay
Google Pay
UnionPay International
Juniper Research has ranked Alipay as the leader in QR code payments, having built upon its early‑mover advantage to create a portfolio of strong features, including loyalty schemes, online payments, and a food delivery service in the QR space. The report suggests competitors emulate Alipay’s strategy to create a valuable ecosystem that revolves around QR code payments capabilities, such as loyalty schemes.
National Schemes to Boost QR Growth
The report found that the prospects for adoption and growth are stronger in markets with national schemes in place, due to incentives that promote ease of use for consumers; with increased interoperability being a major enabling factor. In particular, the research found that in India, the transaction value of QR code payments will increase from $62 billion in 2022, to $125 billion in 2026, driven by its national QR code standard and reduced cash usage. Accordingly, we recommend that vendors looking to expand internationally focus on markets with established national schemes.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.