QR codes have been around for more than two decades, but they're only just starting to gain real traction as a disruptive technology. The square, black and white codes are essentially a type of barcode that can be scanned by a smartphone or other device, allowing users to quickly access information or complete tasks. While QR codes have been used in marketing and advertising for several years, they're now being embraced by a wider range of industries, from healthcare to finance.
QR codes were first developed in 1994 by a Japanese company called Denso Wave. Originally, they were used in the manufacturing industry. Over time, QR codes were also used in marketing, allowing customers to scan codes on products or advertisements to learn more about a product or access special promotions.
What are QR Codes?
QR codes are two-dimensional barcodes that were first developed in Japan. They were originally designed for use in the automotive industry, where they were used to track parts and inventory. However, their potential soon became clear, and they were quickly adopted in a variety of other industries, including advertising, marketing, and retail.
The basic structure of a QR code consists of a matrix of black and white squares, which can be read by a QR code scanner. The scanner uses the pattern of squares to decode the information that is contained within the code, which can be anything from a website URL to a product description.
How do QR Codes Work?
QR codes work by encoding information in a way that can be read by a QR code scanner. The scanner uses a camera to capture an image of the code, and then uses software to decode the information that is contained within it. The software then performs the appropriate action, such as opening a website or displaying a product description.
This story is from the May 2023 edition of BANKING FINANCE.
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This story is from the May 2023 edition of BANKING FINANCE.
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