QR Code Payment Market to be Worth $33.13 Billion by 2030

The global QR code payment market size is expected to reach USD 33.13 billion by 2030, growing at a CAGR of 16.9% from 2023 to 2030, according to a new report by Grand View Research, Inc.

QR code payment offers a simple interface for quick money transactions anywhere and at any time. QR code payment methods are considered fast, versatile, and secure in comparison to traditional payment methods.

The solution segment is expected to witness significant growth over the forecast period. Increasing demand for secure mobile payment and mobile wallet solutions from businesses and service professionals is propelling the solution segment growth.
The dynamic QR code segment dominated the market in 2022. Dynamic QR codes have become increasingly popular in recent years due to their versatility and convenience.

Dynamic QR codes can be easily scanned using a mobile device, making them a convenient option for customers to access information or complete a transaction.

The push payment segment accounted for the largest revenue share in 2022. The push QR code payment method has been gaining popularity in recent years as it is a secure way to make payments since it requires authentication from the customer's bank through a push notification. This helps to prevent fraud and unauthorized transactions.

The face-to-face segment dominated the market in 2022. Increasing face-to-face transactions owing to its benefits, such as improved convenience, security, and efficiency, is boosting the growth of the segment.

The restaurant segment accounted for the largest revenue share in 2022. The concerns about hygiene and a need to reduce contact between restaurant staff members and guests are expected to drive the adoption of QR code payment methods.