QR Code Payment Market Set to Reach $61.73 Billion by 2033, Driven by Rising Smartphone Use and Demand for Contactless Payments.

The global QR code payment market is projected to reach $61.73 billion by 2033, growing at a CAGR of 20% from 2025 to 2033. The market is driven by rising smartphone use and demand for contactless payments, with the Asia Pacific leading this surge. Key players include PaymentCloud, Clover Network, Revolut, Nearex, ACI, Ecentric Payment Systems, Block, UnionPay, LINE Pay, and PayPal. The solution segment dominated the market in 2024, accounting for over 68% of revenue.

The global QR code payment market is projected to reach USD 61.73 billion by 2033, growing at a CAGR of 20% from 2025 to 2033 [1]. This growth is driven by rising smartphone usage and the increasing demand for contactless payment solutions. The Asia Pacific region is leading this surge, with countries like China, India, Vietnam, Singapore, and the Philippines adopting QR code payment solutions at a rapid pace.

Key players in the market include PaymentCloud, Clover Network, Revolut, Nearex, ACI, Ecentric Payment Systems, Block, UnionPay, LINE Pay, and PayPal. The solution segment dominated the market in 2024, accounting for over 68% of revenue [2]. Dynamic QR codes, which can be easily scanned using a mobile device, have become increasingly popular due to their versatility and convenience. The push payment method, which requires customer authentication through a push notification, has also gained significant traction for its security benefits.

The restaurant segment accounted for the largest revenue share in 2024, driven by concerns about hygiene and the need to reduce contact between staff and guests. The face-to-face segment also showed strong growth due to its convenience, security, and efficiency. The increasing volumes of digital payment transactions, fueled by the growth of e-commerce, and government initiatives to digitize payments are further expected to create market growth opportunities.

The report provides a comprehensive analysis of the market, including competitive insights, future trends, and actionable recommendations. It covers various segments such as offerings, payment types, transaction channels, end-users, and regions, offering detailed forecasts for the period 2025 to 2033.

References:
[1] https://finance.yahoo.com/news/qr-code-payment-market-trends-082100042.html
[2] https://www.globenewswire.com/news-release/2025/08/18/3134774/28124/en/QR-Code-Payment-Market-Trends-Analysis-Report-2025-2033-with-Profiles-of-PaymentCloud-Clover-Network-Revolut-Nearex-ACI-Ecentric-Payment-Systems-Block-UnionPay-LINE-Pay-and-PayPal.html