Market Share of QR Codes Industry
The QR Codes Market is fragmented, with several major players, such as Uniqode Phygital Inc., PayPal Inc., UnionPay International Co. Ltd, and Clover Network LLC, among others. These market players strive to innovate new products through extensive investments in R&D, collaborations, and mergers to cater to consumers' evolving demands.
• July 2024 - The Open Network for Digital Commerce (ONDC) introduced an interoperable QR code to empower a diverse range of sellers, from local artisans to neighborhood shopkeepers. As per the company's announcement, these interoperable QR codes are presently in their alpha phase. They enable sellers to create a unique QR code. Customers can scan this code using any ONDC-registered buyer app, beginning with Magician and Paytm. The feature is set to expand across the entire network following initial testing.
• July 2024 - The National Payments Corporation of India expanded its UPI payments service to the United Arab Emirates. Indian travelers or NRIs in the UAE will be able to make payments using UPI through a QR code at Point-of-Sale machines.
QR Codes Market Leaders
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Uniqode Phygital, Inc.
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UnionPay International Co., Ltd.
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Block, Inc. (Square)
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Clover Network, LLC
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PayPal, Inc.
*Disclaimer: Major Players sorted in no particular order
