New Payment Options With QR Codes
When it comes to paying for certain good and services, consumers are about to have another new technology at their disposal. The SCVNGR company has just unveiled a new pay-by-QR-code mobile payment service that they are titling LevelUP. This new payment option has recently undergone an eight week trial period in the cities of Philadelphia and Boston, where is showed promising potential. With the unleashing of this new scanner payment system, consumers will be able to upload credit and debit card information to the LevelUp system. LevelUp will in turn assign each of these individuals there own personal QR Code, which they can then use to scan and within seconds, pay participation merchants for goods and services. This new payment scanning technology will also provide participating consumers the option of quick sign ups for certain loyalty programs that many merchants are offering. There are approximately five hundred business throughout New York, Philadelphia, Boston and San Francisco that have already agreed to incorporate the LevelUp payment system into their point of sales technology. The SCVNGR company will be providing each of these participating merchants with the Android software and specific payment terminal systems needed in order to scan these codes and carry out consumer transactions. Many participating merchants will also be promoting the use of these new QR Code payment methods by offering certain incentives to those customers who take advantage of them. One example of this would be offering credits to participating LevelUp customers that can be redeemed instantly after spending a designated amount of money.
Many would say that this is SCVNGR's version of other mobile payment systems, like the one recently adapted by Starbucks.
Seth Priebatsch, who is the founder of SCVNGR, says that the new LevelUp systems are performing far beyond their original expectations in the markets tested so far. Priebatsch also comments that merchants who offer incentive programs can expect their customers to spend an average of about 5.7 times more during their visit!
If all continues to go well, you can expect to see more of these QR Code payment options popping up by the start of 2012, as SCVNGR plans to introduce the LevelUp systems aggressively at this time.