QR code labels market continues to expand and grow in value

QR code labels - QR coce on Cheez Whiz container lid

The market is expected to expand at CAGR of 9.7% during 2019 – 2027. Manufacturers of QR code labels are expected to witness healthy revenue growth due to how widely applicable this practical technology is for a diverse range of brands. According to a report from Future Market Insights (FMI), the quick response (QR) code labels market was valued at US$996.8 million in 2018 and it is expected to grow at a CAGR of 8.7% during 2019 – 2027. The readability of these labels is helping to spur their growth.…

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Bank Indonesia officially launches national QR code payments standard

National QR Code Payments Standard Launched in Indonesia

The Quick Response Indonesia Standard (QRIS) code system has been released. Bank Indonesia (BI) has finally launched its national QR code payments standard, the QRIS code system. The goal of this system is to universalize cashless payment in the country. The system allows for a consumer to transfer funds from one payment system to any other within the BI ecosystem. As QR Code press reported back in April, Bank Indonesia, Indonesia’s central bank, had been working on conducting a trial to establish national QR code payments standards for the country’s…

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New QR code security system in Japan to help boost cashless transactions in the country

QR code security system - CGTN America YouTube

Electronic payments have been slow to expand in Japan. A new QR code security system is in the works that could help cashless payments take off in Japan. The country wants to increase its number of digital transactions to not only reduce the number of cash transaction, but to also make it easier for the government to collect taxes with better efficiency. Japan wants to increase total digital payments of all transactions to 40% by 2025. In Japan, cashless payments have been slow to take off, with 80% of people…

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Smart driving licenses with a QR code to be released by MMVD

Smart driving licenses - Traffic in Mumbai

The Maharashtra Motor Vehicles Department (MMVD) wants to combat fake licenses. The Maharashtra Motor Vehicles Department intends to issue new smart driving licenses with quick response (QR) codes to drivers in Maharashtra, India’s west-central province. The MMVD hopes that the QR code licenses will make it easier for officials to check if a license is genuine. The QR code on the license can easily help officers identify drivers. Last month in Mumbai – Maharashtra’s capital and the nation’s largest city – the city’s traffic police busted a fake driving license…

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Traffic ticket QR code scams cause problems in China

QR Code Scams - Parking Tickets

Some Chinese residents have become victims of fraudulent traffic tickets. QR code scams are hitting China as the country’s society becomes increasingly cashless. Now, scammers who want to make easy money, are creating quick response codes and applying them to fake parking violation tickets to trick drivers into paying. Parking tickets with legitimate QR codes are commonplace in China. The reason the con artists are having success is QR code payments have become extremely commonplace in many parts of China. According to Nikkei Asian Review, a recent study revealed that…

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