Spanish clothing company Inditex is planning to implement a new retail payment system that uses mobile phones and QR codes. Consumers who scan QR codes at store terminals will be able to use Inditex's InWallet mobile payment service, making it easy to carry out payments that don't involve any physical cash.
This QR code service will be launched across all of Inditex’s retail brands, including Zara, Zara Home, Pull&Bear and Massimo Dutti.
While it may seem as though QR codes have recently taken a backseat with the rise of contactless payments and wearable technology, many of these systems have yet to be adopted by the public and stores on a large scale. QR codes remain easily accessible to consumers with smartphones.
QR Payment Systems
Inditex's Retail Payment System Will Let Consumers Pay by QR Code
Trend Themes
1. QR Codes for Retail Payments - Using QR codes as a retail payment system to increase efficiency and convenience for consumers.
2. Mobile Phone Payment Services - Using mobile phone payments to eliminate the need for physical cash and provide a seamless payment experience for consumers.
3. Contactless Payment Adoption - The slow adoption of contactless payment systems in stores creates an opportunity for retailers to adopt QR code payment services.
Industry Implications
1. Retail - QR code payment services can streamline the payment process and improve customer satisfaction in the retail industry.
2. Mobile Technology - The use of mobile phone payments and QR codes can help drive innovation and disruption in the mobile technology industry.
3. Marketing and Advertising - QR codes can be used in advertising campaigns and as a method for tracking customer behavior, providing new opportunities for marketing and advertising firms.