Quick Response (QR) Codes Payment Market Report 2026

The quick response (qr) codes payment market size has grown rapidly in recent years. It will grow from $16.64 billion in 2025 to $19.81 billion in 2026 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to increasing digital literacy levels, expansion of mobile-first payment ecosystems, growth of online retail transactions, widespread use of smartphones, rising adoption of app-based payments.

The quick response (qr) codes payment market size is expected to see rapid growth in the next few years. It will grow to $38.04 billion in 2030 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to increasing integration of qr payments with banking platforms, expansion of real-time payment rails, growing focus on secure remote transactions, adoption of unified qr standards, increasing merchant digitization initiatives. Major trends in the forecast period include increasing adoption of standardized qr payment platforms, rising demand for interoperable payment codes, expansion of remote qr transactions, growing use of qr payments in online commerce, enhanced focus on user convenience and speed.

The increasing smartphone penetration is expected to propel the growth of the quick response (QR) codes payment market going forward. Smartphone penetration refers to the percentage of individuals within a specific population who own and use smartphones, indicating the level of smartphone adoption within that group or region. Rising smartphone penetration is driven by increasing affordability, technological advancements, and growing demand for mobile connectivity and functionality. Smartphones utilize QR codes for payments by scanning the code displayed at the point of sale, linking to the user's payment app or digital wallet, and facilitating secure transactions. For instance, in October 2023, according to the Global System for Mobile Communications Association (GSMA), a UK-based industry organization, 54% of people worldwide equating to about 4.3 billion individuals owned a smartphone. Therefore, the increasing smartphone penetration is driving the growth of the quick response (QR) codes payment market.

Major companies operating in the quick response (QR) code payment market focused on developing innovative products, such as QR code devices, to enhance the user experience and accelerate adoption. A QR code device is a tool or gadget capable of generating, displaying, or scanning QR codes. For instance, in February 2024, SuperUs, an India-based technology company, launched the Dynamic QR Code device, which is set to transform digital payments in India, seamlessly merging cash and checkout terminals to offer unmatched transaction experiences for businesses and customers. Positioned as a cost-effective solution, it removes the need for upfront expenses on hardware, software, and training. Additionally, it substantially cuts down on reconciliation costs, promising significant returns on investment for businesses.

In December 2023, Klarna Bank AB, a Sweden-based financial services company that provides online financial services, partnered with Adyen. Through this partnership, Klarna will leverage Adyen’s acquiring capabilities to streamline card payments for its 150 million consumers and 500,000 retail partners worldwide. This collaboration underscores Adyen's commitment to empowering global enterprises in the digital economy, offering them tools for seamless payments, scalability, and enhanced consumer experiences across various markets, sales channels, and business verticals. Adyen is a Netherlands-based payment company that provides QR code payments and end-to-end payment capabilities.

Major companies operating in the quick response (qr) codes payment market are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Alibaba Group Holding Limited, Tencent Holdings Limited, PayPal Holdings Inc., Fiserv Inc., Stripe Inc., Adyen N.V., Worldpay Inc., MercadoLibre Inc., Dana Inc., PayU, Grab Holdings Inc., One 97 Communications Paytm Ltd., PhonePe Private Limited, Ant Financial Services Group, Visa Inc., Mastercard Inc., Klarna Bank AB, Payoneer Inc.

Asia-Pacific was the largest region in the quick response (QR) codes payment market in 2025. The regions covered in the quick response (qr) codes payment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the quick response (qr) codes payment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The quick response (QR) codes payment market consists of revenues earned by entities by providing services such as seamless mobile payments, secure transactions, instant fund transfers, transaction history tracking, and loyalty program integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The quick response (QR) codes payment market also includes sales of static quick response (QR) codes and dynamic quick response (QR) codes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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