QR Code Payment Users to Reach 2.2 Billion Globally by 2025

A new study from Juniper Research has found that the total number of QR code payment users will exceed 2,2 billion in 2025, up from 1.5 billion in 2020; equating to 29% of all mobile phone users across the world in 2025.

The report predicts that much of this growth will be within emerging markets, where weak card infrastructure creates a strong opportunity.

However, the research also found that the US will see a strong growth of 240% in user numbers between 2020-2025, as QR code payments tap into the need for cashless payments stimulated by the pandemic. The research identified PayPal’s roll-out of QR payments and its partnership with CVS as key drivers of the renaissance of QR payments within the US market.