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SocketMobile Inc., a provider of mobile data-capture solutions, has launched a countertop QR-code payment reader to enable consumer-presented QR-code operations.
The device, called the SocketScan S320, was developed in response to consumer demand for QR-code technology at the point-of-sale, the company says.
The global payment market for QR codes totaled $11.2 billion in 2022 and is projected to grow to $51.5 billion by 2032, according to the research firm Brainy Insights. In addition, the user base for QR codes for payments is expected to reach 2.2 billion by 2025, or 29% of all smart-phone users globally, up from 1.5 billion in 2020.
QR code technology is especially popular in Asia and Latin America, where merchants see it as cost-effective solution to accept digital payments. In China, for example, more than 80% of domestic payments are made using QR codes, the company says.
In addition to supporting QR-code payments, the S320 supports such non-payment applications as age verification, access control or ticket acceptance for secure environments, and loyalty and couponing programs.
Software developers can develop programs for the S320 using SocketMobile’s CaptureSDK software-development kit.
The S320 is compatible with iPad and Android devices and can read QR codes from paper, labels, mobile wallets, or app screens. The device is available through Socket Mobile’s distribution partners or the company’s Web site and has a manufacturer’s suggested retail price of $189.
