15-Jan-18, ASEAN Today
QR codes became popular in Japan when smartphone developers included QR-code reading technology. Adoption took off in China in recent years, thanks to Alibaba’s Alipay and Tencent’s WeChat Pay.
%20ASEAN%20Today.jpg "The rise of QR code payments in ASEAN (c) ASEAN Today")
Image: ASEAN Today
Those two companies enabled contactless payments by scanning QR codes. Consumers can now scan a QR code to tip a waiter, buy wedding gifts and even donate money to homeless people.
Using QR code payments has advantages for companies. Terminals that support Apple Pay or Android Pay are expensive. QR code payment systems do not need an internet connection to work. That makes it a more viable model for ASEAN nations as they strive for a cashless society.