Hampshire, UK – 10th February 2025: A new study from Juniper Research, the foremost experts in fintech and payment markets, has found that the value of QR code payments will grow by 50% globally from $5.4 trillion in 2025.
Driving Adoption
The standardisation of national QR schemes and Account-to-Account (A2A) payment initiatives will be a key factor in driving the adoption of QR code payments. Despite this growth, Apple’s opening up of third-party Near-field Communication (NFC) access will increase competition, as consumers will have wider access to NFC-based options. The report predicts that this increased competition will be most felt in North America and Europe, where iOS products have the highest market share.
Find out more about the new report: Global QR Code Payments Market 2025-2029, or download a free sample.
Utilising QR Code Advantages Critical to Success
The research anticipates that accessibility and affordability will be vital for establishing the presence of QR codes in NFC-dominated markets.
QR code payments hold distinct advantages over NFC technology, which contribute to their continued growth and widespread adoption. The two primary factors driving the sustained appeal of QR codes; making them an accessible and versatile solution for both businesses and consumers, are:
- Lower operational costs
- Universal compatibility
Research author Daniel Bedford explained: “QR code infrastructure is cheaper and more accessible than traditional point-of-sale technology. It lowers the barrier to entry for smaller vendors, such as street vendors, drivers, and independent workers, to readily accept payments, which helps to drive financial inclusion.”
The research recommends that QR code payments vendors must tailor their offerings for smaller businesses to capitalise on this growth. The low implementation costs were identified as a compelling differentiator over NFC payments, especially for merchants operating in developing markets.
About the Research Suite
The new research suite offers the most comprehensive assessment of the QR code payments space to date, including insightful market analysis and in-depth forecasts for 61 countries. The dataset contains over 15,000 market statistics and an examination of current and future market opportunities.
Juniper Research has, for two decades, provided market intelligence and advisory services to the global financial sector, retained by many of the world’s leading banks, intermediaries and providers.
Contact Sam Smith, PR
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com
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