QR Codes as Payment Options
Experienced executive and financial technology leader Merrill Brooks Smith is a resident of Fort Lauderdale, FL, but serves as CEO of InComm Payments, based in Atlanta, GA. In his three decades running the company, Merrill Brooks Smith has introduced several revolutionary technologies, including alternative payment options such as QR codes.
Quick response (QR) codes are scannable codes that can be read by a scanner app installed onto a mobile device. When using a QR code to process a payment, scanning the code will cause a payment processor to appear on the customer's device. The QR code will automatically populate the transaction cost and merchant’s information. The customer can then choose their secure method of choice to complete the transaction.
Many customers prefer paying by QR code, as sensitive financial information is never visible. Businesses can also offer QR payments without investing in expensive hardware or software. Some types of QR codes also do not require input from the merchant and allow the customer to complete their own transactions. This can be beneficial for small businesses that need to serve more customers but cannot hire additional employees.
