By Sarah Clark
Mobile payments made via QR codes will grow in value by 50%, from US$5.4 trillion in 2025 to more than US$8 trillion in 2029, Juniper Research predicts.
The two primary factors driving the sustained appeal of QR codes are lower operational costs and universal compatibility, the analysts say, while the standardisation of national QR schemes and Account-to-Account (A2A) payment initiatives “will be a key factor in driving the adoption of QR code payments”.
However, “despite this growth, Apple’s opening up of third-party Near-field Communication (NFC) access will increase competition, as consumers will have wider access to NFC-based options.”
“This increased competition will be most felt in North America and Europe, where iOS products have the highest market share,” Juniper adds.
“The research anticipates that accessibility and affordability will be vital for establishing the presence of QR codes in NFC-dominated markets.”
