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What does the future hold for QR codes in Lithuania?

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There have been countless unsuccessful attempts to introduce payments by QR codes in Lithuania. Recently, the mobile payment platform "MoQ" has also announced the cessation of its activity. Despite all this, the possibility to pay by QR codes in Lithuania remains. Paysera has been providing such payments since 2015. According to the company, the introduction of QR code payment would be quick and easy at most locations whenever required.  

"When we introduced QR code payments in Lithuania, it was still very foreign to our society, so we focused on the more active development of other products. Society today is smart, mobile payments are becoming more popular than ever, especially in sectors such as catering and entertainment, for example, in a café the customer does not need to wait for the waiter to come – he can pay right here and then," - says Vytenis Morkūnas, CEO of Paysera LT. 

According to the CEO, the QR code functionality offered by the company is available in most modern cash registers, so all that needs to be done in order to keep the QR code payment option open for customers is to activate the payment method offered by Paysera. The activation process itself is quick and simple. 

Scanning a QR code with the Paysera mobile app takes just a few seconds and the payment is made instantly, with no additional fees for private customers. In order to make a payment, a person must be a Paysera client and have the required amount in their account to make the payment or on a linked payment card. 

Although QR code payments have not been intensively pursued as one of Paysera's products, there are a number of companies that have successfully used QR code payments. The prospects are promising in Paysera's network countries such as Bulgaria, Romania and soon – Kosovo. 

"We have introduced a number of innovations to the payments market in Lithuania – we are the first e-money institution, and we are also one of the first ones to offer QR code payments. In many companies that use this payment method, it is just one of many methods of payment available, but it has integration with many of our solutions offered to businesses, which add value not only to the business but also to the customer," says V. Morkūnas. 

About Paysera

Paysera provides money collection, transfer, currency conversion, event ticketing, and other payment solutions. Over EUR 16 million transactions are made daily through the Paysera payment system and mobile app. International money transfers are made in 23 currencies and reach 180 countries worldwide. Paysera network companies in Lithuania and abroad employ over 250 people. Paysera LT is the first Lithuanian fintech company to receive an electronic money licence.