English
The coronavirus pandemic has taught people to use QR codes in new and broader ways. This presents a great opportunity to shake up international payment systems with their wildly expensive commissions – and move to something better.
QR codes are one of humankind’s brilliant inventions, and yet, they are still underestimated. In developed countries, they are mainly used as graphical hyperlinks leading to sites or other information. However, with QR codes, you can also create a cashless payment infrastructure – quickly and inexpensively. This opportunity is now actively used by countries with developing economies, including China, India and Brazil. It also appears the coronavirus crisis could well spread this practice around the world, moving the QR code-based fintech industry towards a definitive breakthrough.
Today, we see how the process of market education has evolved: COVID-19 has forced authorities in multiple countries to implement QR codes actively used to track the health status of citizens and their movements. QR codes are becoming a familiar part of everyday life, making it not only possible but necessary to expand the scope and use of this technology, primarily in the field of finance.
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