Companies in the payments space find 8 innovative ways of using QR codes

The mobile QR code and barcode redemption market is estimated to cross $50 Bn globally by 2017, according to Mind Commerce. Quick Response (QR) codes were initially designed for identifications of auto parts in the Japanese automotive industry. Automakers could keep track of parts, inventory, and quality checks.

QR codes have come a long way from inventory and quality checks at automakers. QR codes have found a great use in the marketing industry. Some ways in which QR codes have been adopted by various companies include:

  1. Games for promotion: Pirates, buried fortunes, ancient maps and lost jewels usually come to mind when someone says Treasure Hunt. Taking an out of the box approach, MoLo Rewards in combination with Association of Town and City Management (ATCM) had set up a treasure hunt for a group of top retailers in UK between 21st and 29th of September 2013. The video below shows a small clip of the Purple Flag Treasure hunt event where NFC and QR codes are s ...

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