Juniper forecasts 50% growth in QR mobile payment transactions

Mobile payments via QR codes are set to grow by 50%, rising from US$5.4 trillion in 2025 to over US$8 trillion by 2029, according to Juniper Research.

The firm highlights two key factors driving QR code adoption: lower operational costs and universal compatibility. Additionally, the standardization of national QR schemes and the rise of Account-to-Account (A2A) payment initiatives will further accelerate growth.

However, Apple’s decision to open up third-party access to Near-Field Communication (NFC) technology is expected to intensify competition, giving consumers more NFC-based payment options.

Juniper notes that this competition will be particularly strong in North America and Europe, where iOS devices hold the largest market share. Nonetheless, accessibility and affordability will be crucial for QR codes to maintain a foothold in these NFC-dominated regions.