SUCCESS STORIES / Digital Customer Experience
How QR code solution enabled seamless payments across countries, with their respective regulatory standards.
Digital payment systems are rapidly transforming all industries and the lives of millions of people globally. In the wake of the COVID-19 pandemic, payments via QR codes gained rapid popularity.
The research report says that the global QR code payment market was valued at $8.07 billion in 2020 and is projected to reach $35.07 billion by 2030, growing at a CAGR of 16.1% from 2021 to 2030. Though QR code solutions have improved the customers’ shopping journey, there are still regulatory, efficiency, and operational challenges.
How can a service provider tackle these challenges while providing a robust platform for payments?
3X faster adoption of scan code payments
90% reduction in IT overheads for onboarding new markets
95% reduction in deployment costs
Our client is a leading mobile money and financial service provider in Europe and Africa. They had introduced custom QR Codes for different markets in Africa and were now looking for a standardized QR code for all the markets.
They approached Prodapt for a partnership focused on service standardization across all countries in line with their compliance standards.
Prodapt's QR code solution enabled a standard and interoperable payment experience across regions.
Our discovery session showed that QR Code specifications needed standardization and had limited interoperability. Lack of interoperability with other vendors hindered digital payments, increasing inconvenience for customers. Moreover, due to unstable internet connectivity in rural areas, complexities increased in QR code payments.
In addition, the QR solution failed to integrate with the POS merchants and third-party solutions. There was a constant fear of sending incorrect data during payment processing. The client incurred considerable costs in maintaining integrations with multiple mobile applications across different markets with their custom QR codes.
For successful digital payments, the client had to ensure that they abide by the compliance standards of different countries, address interoperability issues with vendors and ensure that the data is correctly sent during payments.
We implemented a centralized, network-agnostic standard QR code format across the client’s mobile payment markets. The client enabled payments both offline and online. Our QR code solution generates codes that can be mapped with the QR standards of different countries and can combat interoperability. We facilitated a secured integration between QR solution and third-party consumer's applications and platforms via a cloud hosted API library.
Designing scalable, containerized cloud deployment mechanisms with managed services facilitated payments in an easier, faster, and more secure way.
Our mobile payments support backward compatibility and interoperability making it easy for rural customers to make payments and transact more efficiently.
Our standardized QR Solution enabled 3X faster adoption of scan code payments across countries. IT overheads for onboarding new markets went down by 90%, and the deployment cost by 95%.
We'd love to hear from you.
