According to a new report, published by KBV research, The Global QR Code Payment Market size is expected to reach USD 48.59 billion by 2032, rising at a market growth of 19.4% CAGR during the forecast period.
Market leaders have used strategies that combine working with regulators, expanding partnerships, and integrating infrastructure. One way to speed up merchant onboarding and reduce fragmentation is to enforce and adopt interoperable QR formats. Regulators in India and Indonesia have required that there be only one national QR system. EMVCo provides a global technical base for consistency. Another plan is to grow acceptance networks by forming partnerships.
The Solution market captured the maximum revenue in the Global QR Code Payment Market by Offerings in 2024, thereby, achieving a market value of USD 33.21 Billion by 2032. This is driven by the widespread deployment of software platforms, applications, and integrated payment gateways that enable secure, fast, and user-friendly QR-based transactions. Businesses across various industries are increasingly adopting these solutions to enhance customer convenience, streamline payment processes, and reduce dependency on costly traditional POS systems.
The Push Payment segment is experiencing a CAGR of 19.1 % during the forecast period. In this method, the payer initiates the transaction by scanning the QR code and authorizing the payment from their account or digital wallet. Push payments are favored for their security, as the customer retains control over the transaction process, and sensitive account details are not shared with the merchant.
The Face-to-Face segment led the maximum revenue in the Global QR Code Payment Market by Transaction Channel in 2024, thereby, achieving a market value of USD 27.25 Billion by 2032. This channel involves customers making payments in physical locations by scanning a QR code displayed at the point of sale. It is widely adopted in retail stores, restaurants, transportation, and small merchant setups due to its speed, simplicity, and minimal infrastructure requirements.
The Restaurant segment is growing at a CAGR of 18.6 % during the forecast period. Restaurants increasingly use QR codes for quick and contactless transactions, allowing customers to scan codes placed on tables, menus, or bills to make payments instantly. This not only speeds up the checkout process but also enhances the dining experience by reducing wait times and minimizing physical contact.
Full Report: https://www.kbvresearch.com/qr-code-payment-market/
The Asia Pacific region dominated the Global QR Code Payment Market by Region in 2024, thereby, achieving a market value of USD 22.38 Billion by 2032. The North America region is anticipated to grow a CAGR of 18.5% during (2025 - 2032). Additionally, The Europe region would witness a CAGR of 18.9% during (2025 - 2032).
By Offerings
By Solution Type
By Payment Type
By Transaction Channel
By End User
By Geography
Unique Offerings
