QR Codes used for instant registration and bill payment
California: Toyota Financial Services (TFS) launches an iPhone app for bill payment. The clever part is ‘Unlike other bill payer apps, customers who download the TFS app may use their smart phone or iPad2 to simply scan a personalized QR code found on their billing statement and have instant access to their account. While utilizing the QR code is not required to use the app, it does speed the process of paying via a mobile device. … an option that would give them immediate access to their accounts, even if they’ve never registered on-line prior to downloading the app’
This apparently small difference is actually pretty significant and highlights a very real benefit of the QR Code. Registration processes are always tedious and can dissuade users from using such software on a phone – the phone is not really a suitable interface for manually-entering large amounts of data,(that is something that you should use a full-sized computer for) Allowing the phone to grab the required data from a printed bill means that this step can be skipped entirely – making it faster and more accurate.
You could, of course, have a similar system with the home computer, where the registration info is read from the printed bill – except that so few home computers are able to read printed materials. Technically, it is not difficult (either via a webcam or a flatbed scanner), but there seems to be no commonly-used standard method.
TFS launched a video, highlighting the apps benefits to its users: http://youtu.be/fPsxD4rSVfc
The press release also shares some interesting market research:
- 20% of consumers who own an Internet-capable phone use it to pay bills (NACHA)
- 62% of those customers went directly to the billers’ website (NACHA)
- 88% of the U.S. population (270 million) will have a mobile phone subscription by 2014 (Forrester)
- Mobile Internet usage is expected to grow from 52 million in 2009 to 106 million in 2014 (Forrester)
- Over $200 billion in payments will be collected via mobile devices by 2015 (Forrester)
- Forrester also expects that nearly 18% of customers who currently don’t bank on-line will be using mobile banking to access their accounts in the future.