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Why is QR Code Payment More Popular than NFC?
Source:Powered | Author:admin | Time:2017-11-30 | Views:460

NFC (Near Field Communication) is developed from RFID. It supports contactless communication within 10cm. NFC technology is mainly used for mobile payment. NFC payment means tap to pay.
In last February, Apple pay, which is based on NFC enters the Chinese market. On the first day, it has 30 million registered users. Now more than one year has passed, Apply pay has very tiny market comparing with Wechat and Alipay in China.
According to iiMedia Research report, in the first half of 2017, Alipay and Wechat Pay enjoy more than 90% of the mobile payment market. It shows that the mobile payment market is highly concentrated in Wechat and Alipay.

Why is QR Code Payment More Popular than NFC?

Technically, NFC is much better inconvenience and security level than QR code payment. But advanced technology could not win the market for sure.
NFC payment can be finished in 3 seconds. The whole process only includes tap on NFC reader; wake up mobile phone screen and input password. Though QR code payment needs a longer process: unlock the phone screen; open Wechat or Alipay APP, tap the app to scan. After a short aiming, QR code payment is finished. Besides, there are many factors influencing the success of scanning QR code: the scanning distance, angle and environment brightness.

In terms of cost, QR code payment has much more advantages. For NFC payment, the smartphone itself must support NFC technology. Only partial high-end mobile phone support NFC. Second, the shop owner also needs to install NFC reader. These two factors make the application of NFC difficult.
But for QR code payment, all smartphone can use Wechat or Alipay app. Shop owners only need to have a gun type barcode scanner or desktop barcode scanner, which cost is much lower than NFC reader.
If you are interested in QR code payment solution, please kindly contact Rakinda. We will do our best to support you.

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