Rest of Asia Pacific to Lead Global Surge in QR Payments
Our latest research indicates that QR code payments are set for a massive expansion over the next five years, with global QR payment transaction value expected to exceed $8 trillion by 2029 - a 48% increase from $5.4 trillion in 2025. While established markets continue to grow steadily, emerging regions are seeing a surge in adoption, reshaping the global payments landscape.
While Far East & China dominates QR payments, contributing 60% of global transaction value in 2029, its growth is slowing compared to other regions. In contrast, Rest of Asia Pacific is set to be the fastest-growing market, expanding by 309%, followed West Europe (165%) and Central & East Europe (152%).
However, despite strong growth in West Europe, some regions are seeing declines in QR payment adoption. In countries where Vipps MobilePay operates, for instance, such as Sweden, Denmark, and Norway, we are seeing a shift toward NFC-based payments due to their superior convenience and efficiency.
With developing economies leading the charge, QR payments are set to become even more ingrained in global commerce. Businesses must recognise these shifting dynamics and adapt strategies accordingly to capitalise on emerging opportunities.
Source: Global QR Code Payments Market 2025-2029
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