POM: QR Codes May Ease Late Payments Threat

The QR code is one technology that could be particularly beneficial in addressing late payments friction. According to POM co-founder and CEO Johannes Vermeire, generic QR codes ensure that end customers can scan the code on an invoice and pay using the rail of their choice, a critical feature for companies that are still sending out paper invoices. QR codes, he said, are “a means to convert paper to electronic receivers.” While consumers may be able to easily use QR codes, professional and business payers may not embrace the technology so easily.