Chemist Warehouse introduces new QR code payment system in stores
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In the digital age, convenience is king.
Yet, with the rise of digital transactions, every penny counts.
A famous retailer is revolutionising the way Australians shop as they introduce a new way to pay for purchases.
Chemist Warehouse started rolling out QR code payment options in their stores.
This payment method, known as Pay By Bank, could make checkout experience faster, smoother, and more cost-effective for customers nationwide.
QR code payments should only require the customer's smartphone.
By scanning a QR code at checkout, customers could make direct payments from their bank accounts, bypassing surcharges associated with card payments.
This is a game-changer for those who find ways to avoid unnecessary costs and keep their finances in check.
Cash and card payments will still be available in-store.
Chemist Warehouse's QR code payments are more than just convenience; they are also a smart business move.
Adopting the new payment method could significantly reduce operational costs, keeping prices affordable in the process.
'For retailers like Chemist Warehouse, they can substantially reduce transaction fees, which can be as high as 1.5 per cent for card payments,' Dr Nguyen stated.
These savings could be passed onto shoppers through lower prices and could help save a few dollars in the process.
However, Dr Nguyen cautioned that security concerns could arise with QR code payments.
While the codes are encrypted, someone could scan a fraudulent code, inadvertently sending money to a scammer or cybercriminal.
Additionally, the reliance on smartphone technology and the internet could be a challenge for those living in areas with poor network coverage.
Other retailers, including Muji, Vodafone, MJ Bale, and L'Occitane, have integrated the said payment method into their stores.
Dr Nguyen predicted that as more retailers recognise the benefits, consumers should see more QR code payments in stores soon.
As shoppers embrace this new era of shopping, it's crucial to stay informed and vigilant.
Ensure that the QR code is provided by a reputable source, and keep an eye on your bank statements to catch any unauthorised transactions.
Have you tried QR code payments yet? What was your experience like? Share your thoughts and tips in the comments section below!
Yet, with the rise of digital transactions, every penny counts.
A famous retailer is revolutionising the way Australians shop as they introduce a new way to pay for purchases.
Chemist Warehouse started rolling out QR code payment options in their stores.
This payment method, known as Pay By Bank, could make checkout experience faster, smoother, and more cost-effective for customers nationwide.
QR code payments should only require the customer's smartphone.
Chemist Warehouse's QR payments promised a smoother checkout experience without dealing with card surcharges. Image Credit: Shutterstock/Gerry H
By scanning a QR code at checkout, customers could make direct payments from their bank accounts, bypassing surcharges associated with card payments.
This is a game-changer for those who find ways to avoid unnecessary costs and keep their finances in check.
Cash and card payments will still be available in-store.
Chemist Warehouse's QR code payments are more than just convenience; they are also a smart business move.
The company reportedly spends $15 million annually on card surcharges.Adopting the new payment method could significantly reduce operational costs, keeping prices affordable in the process.
RMIT Senior Finance Lecturer Dr My Nguyen highlighted the 'significant' benefits that QR code payments could offer to consumers.'For retailers like Chemist Warehouse, they can substantially reduce transaction fees, which can be as high as 1.5 per cent for card payments,' Dr Nguyen stated.
These savings could be passed onto shoppers through lower prices and could help save a few dollars in the process.
However, Dr Nguyen cautioned that security concerns could arise with QR code payments.
While the codes are encrypted, someone could scan a fraudulent code, inadvertently sending money to a scammer or cybercriminal.
Additionally, the reliance on smartphone technology and the internet could be a challenge for those living in areas with poor network coverage.
Despite these concerns, the trend towards QR code payments recently gained momentum.Other retailers, including Muji, Vodafone, MJ Bale, and L'Occitane, have integrated the said payment method into their stores.
Dr Nguyen predicted that as more retailers recognise the benefits, consumers should see more QR code payments in stores soon.
As shoppers embrace this new era of shopping, it's crucial to stay informed and vigilant.
Ensure that the QR code is provided by a reputable source, and keep an eye on your bank statements to catch any unauthorised transactions.
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