QR code payments are quickly becoming a reliable and cost-effective payment method for UK businesses. As more customers rely on mobile phones to shop and pay, scanning a QR code has become just as common as tapping a card, but with lower fees and better flexibility for merchants.
According to recent reports, 94% of UK adults now own a smartphone, and more than 40% use mobile-based contactless payments. QR codes build on this habit, allowing customers to scan and pay in seconds with no hardware, PINs, or passwords.
For businesses, this opens up a simpler way to accept payments at tills, on receipts, in kiosks, or even at mobile locations like pop-ups or service vans. Whether you’re running a high street store or offering click-and-collect, QR code payments for UK retailers offer a faster, more affordable alternative to cards.
In this guide, we compare the leading QR code payment platforms in the UK based on settlement speed, cost structure, payment method, and how well each solution fits real retail and service workflows in 2026. We also explain how QR payments work, where they perform best, and what to consider before choosing a provider.
What Are QR Code Payments?
QR code payments allow customers to pay by scanning a code using their smartphone and authorising the transaction digitally. Once scanned, the customer is taken to a secure checkout or directly to their banking app to confirm the payment.
In the UK, QR code payments can be processed through card-based checkouts, digital wallets, or Open Banking connections that move money directly from the customer’s bank account to the merchant. QR codes can be displayed at tills, printed on receipts, embedded in invoices, or shared digitally, making them suitable for both in-store and remote payments.
Why UK Businesses Use Open Banking–Based QR Code Payments
Open Banking–powered QR code payments are becoming a preferred alternative to traditional card terminals across the UK. They offer a mobile-first, cost-effective, and secure way to collect payments, whether in-store, online, or at point-of-service counters. Here’s why more UK businesses are making the shift:
Lower Costs
- No need to invest in card readers or physical terminals
- Avoid rising card processing fees from major networks
- Many providers offer fixed or usage-based pricing models
Flexible Placement
- QR codes can be displayed at tills, self-checkout stations, or service desks
- Businesses can print them on receipts, invoices, or packaging
- Suitable for countertop stands, customer screens, or printed signage
Faster Checkout
- Customers scan and confirm payment in a few seconds
- Helps reduce queue times during peak hours
- Ideal for high-traffic retail, hospitality, and service settings
Mobile Usage
- Aligns with consumer habits; most shoppers already use smartphones for payment
- No app install required in most cases
- Compatible with both Android and iOS devices
Security and Compliance
- Strong Customer Authentication (SCA) applied through Open Banking or banking apps
- End-to-end encryption protects transaction data
- Reduced chargeback risk compared to card payments
Real-World Use Cases
Businesses across different industries are implementing QR code payments in ways that suit their operating model:
- Retailers: Use QR codes for faster checkout and contactless payment at the till
- Cafés and food vendors: Display QR codes at the counter or print them on menus
- Trades and mobile services: Include QR codes on paper invoices or digital receipts
- Event vendors and pop-up shops: Accept payments without setting up terminals or opening merchant accounts
How secure are QR code payments in the UK?
Most QR payments in the UK use Open Banking with encrypted sessions and SCA, making them more secure than card-based checkouts.
Can QR code payments work with my EPOS system?
Yes, most QR code payment platforms offer easy EPOS integrations using links, receipts, or embedded codes for transaction matching.
📚 Checkout Process Optimisation for Businesses
Top 5 QR Code Payment Platforms for UK Businesses in 2026
| Provider | Fees & Pricing | QR Payment Method | Payout Speed |
|---|---|---|---|
| Finexer | Usage-based pricing, no setup fees | Open Banking (Scan to Pay, API, links) | Instant bank to bank transfer |
| Stripe | ~1% per Pay by Bank transaction | Open Banking via Payment Links & QR Codes | 7–14 days initially, then 1–4 days; instant optional |
| Square | 1.75% per QR payment | Card, Wallet, Square Pay QR | 1–2 business days |
| SumUp | 1.69% in-person, 2.5% online | Card-based QR (mobile & countertop) | 1–3 business days |
| PayPal | 1.5% + £0.10 (or 2% + £0.05 for under £10) | Wallet, card, and PayPal QR | Instant to PayPal balance; 1–2 days to bank |
1. Finexer
| Provider | Finexer |
|---|---|
| QR Payment Type | Open Banking–based account-to-account QR code payments |
| How QR Payments Work | Customers scan a dynamic QR code and authorise the payment directly in their banking app using biometric authentication. Funds are transferred bank-to-bank without card networks or wallets. |
| Security & Compliance |
FCA-authorised and PSD2 compliant Bank-level authentication via customer banking apps (Face ID or fingerprint) Encrypted data handling across all payment flows |
| Transaction Fees |
Usage-based pricing per transaction Designed to be significantly lower than card processing fees |
| Contracts & Setup |
No setup fees No cancellation charges No long-term contracts |
| Hardware Requirements |
No card terminals or merchant hardware required QR codes can be displayed on screens, printed on receipts, or shared via mobile devices |
| Onboarding & Integration |
Deploys 2–3× faster than many traditional payment providers Merchant dashboard and API access provided during onboarding White-label support with guided integration assistance for EPOS and kiosk environments |
| Settlement Time |
Instant settlement to UK merchant bank accounts via Faster Payments Refunds processed within the same banking day |
| In-store & Remote Use |
Suitable for tills, self-checkout, delivery handoffs, and click-and-collect Works with invoices, QR payment links, and messaging-based checkout flows |
| Open Banking / Pay by Bank Support |
Fully supported Payments move directly between bank accounts without card networks |
| Best Suited For | UK retailers, cafés, field service providers, delivery teams, and ecommerce businesses that want instant settlement, lower payment costs, and full control over the checkout experience |
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Try Now2. SumUp
| Provider | SumUp |
|---|---|
| QR Payment Type | Card-based QR code payments (debit and credit cards) |
| How QR Payments Work | Customers scan a QR code and are taken to a SumUp-hosted checkout page where they enter card details and confirm payment. No app download or customer account required. |
| Security & Compliance |
PCI DSS compliant Encrypted transaction processing Meets UK and international card payment security standards |
| Transaction Fees |
1.69% for in-person payments 2.5% for online and remote payments (including QR code payments) |
| Contracts & Setup |
No setup fees No monthly charges Pay-as-you-go pricing with no long-term contract |
| Hardware Requirements |
No hardware required for QR payments QR codes generated via the SumUp app or business dashboard Optional SumUp card readers available for hybrid setups |
| Onboarding Process |
Register a SumUp Business account Generate QR codes from the dashboard or mobile app Display QR codes in-store, on invoices, or printed materials |
| Settlement Time | Funds typically paid out to the merchant bank account within 1–3 business days |
| In-store & Remote Use |
Suitable for in-store payments, pop-ups, and service counters QR codes can be printed, displayed at tills, or added to invoices |
| Open Banking / Pay by Bank Support |
Not supported Payments rely on card networks rather than account-to-account transfers |
| Best Suited For | UK small businesses, sole traders, cafés, salons, tradespeople, food trucks, and local retailers looking for a simple card-based QR payment option |
3. Stripe
| Provider | Stripe |
|---|---|
| QR Payment Type | Card-based and wallet-based QR code payments |
| How QR Payments Work | Customers scan a QR code that opens a Stripe-hosted checkout page. Payment is completed using cards, Apple Pay, or Google Pay. |
| Security & Compliance |
PCI DSS compliant Tokenised payments and built-in fraud prevention Supports Strong Customer Authentication (SCA) |
| Transaction Fees |
From 1.5% + 20p for UK card payments Fees vary based on payment method and risk profile |
| Contracts & Setup |
No setup fees No monthly charges Pay-as-you-go pricing with no long-term contract |
| Hardware Requirements |
No QR-specific hardware required QR codes can be displayed on screens or printed via POS Optional Stripe Terminal hardware for hybrid setups |
| Onboarding Process |
Stripe account required QR codes generated via Stripe Dashboard or API Supports Checkout and Payment Links for dynamic QR codes |
| Settlement Time |
Standard payouts in 2–7 business days Wallet payments typically settle within 1–2 days |
| Open Banking / Pay by Bank Support |
Limited support via third-party integrations Primarily card and wallet-based payments |
| Best Suited For | Businesses already using Stripe for ecommerce or subscriptions and looking to add QR code payments without introducing a separate provider |
4. Square
| Provider | Square |
|---|---|
| QR Payment Type | Card-based and wallet-based QR code payments |
| How QR Payments Work | Customers scan a QR code that opens a Square-hosted checkout flow. Payments are completed using cards, Apple Pay, Google Pay, or Square Pay. |
| Security & Compliance |
PCI DSS certified Built-in encryption and fraud detection Compliant with UK and international data handling standards |
| Transaction Fees |
1.4% + 25p for UK card payments 2.5% + 25p for non-UK or online payments |
| Contracts & Setup |
No setup fees No monthly charges Pay-as-you-go pricing |
| Hardware Requirements |
No hardware required for QR payments QR codes generated via Square app or POS software Optional Square Reader, Terminal, or Register for hybrid use |
| Onboarding Process |
Create a free Square account Enable QR codes via dashboard or mobile app Display QR codes on screens, receipts, or printed materials |
| Settlement Time |
Typically 1–2 business days Instant transfers available for an additional fee |
| Open Banking / Pay by Bank Support |
Not supported Payments rely on card networks and wallets |
| Best Suited For | Small to medium-sized UK businesses using Square POS, especially in hospitality, events, and local retail |
5. PayPal
| Provider | PayPal |
|---|---|
| QR Payment Type | Wallet-based and card-based QR code payments |
| How QR Payments Work | Customers scan a QR code and complete payment through their PayPal wallet. Cards, bank accounts, or PayPal balance can be used. |
| Security & Compliance |
Global PCI DSS compliance Built-in fraud detection and buyer/seller protection Multi-factor authentication and encrypted transactions |
| Transaction Fees |
1.5% + £0.10 for payments over £10 2.0% + £0.05 for payments under £10 |
| Contracts & Setup |
No setup fees No monthly charges Pay-as-you-go pricing |
| Hardware Requirements |
No hardware required QR codes managed via PayPal app or business dashboard |
| Onboarding Process |
Create a PayPal Business account Generate QR codes in-app or online Display QR codes on printed or digital materials |
| Settlement Time |
Funds settle to PayPal balance within minutes Bank transfers take 1–3 business days |
| Open Banking / Pay by Bank Support |
Not supported Requires PayPal account for checkout |
| Best Suited For | Small and mobile UK businesses that want a familiar wallet-based QR payment option and already use PayPal for ecommerce or invoicing |
Choosing the Right QR Payment Platform for Your Business (2026)
- When adopting QR code payments in the UK, the key factors to consider are cost, settlement speed, and setup flexibility.
- Open Banking–based QR payments are best suited to businesses that want instant bank-to-bank settlements and lower transaction costs, particularly in high-volume or mobile-first environments.
- Platforms like Stripe and Square work well for businesses already using their wider payment ecosystems, but typically rely on card networks, which can mean higher fees and slower payouts.
- Wallet-based options such as PayPal and card-focused providers like SumUp prioritise ease of use and brand familiarity, often at the expense of settlement speed and cost control.
- Finexer’s QR-based Open Banking payments are designed for UK businesses that want real-time access to funds and predictable, usage-based pricing without setup fees.
When QR Code Payments May Not Be the Best Fit
QR code payments work well for many UK businesses, but they are not suitable for every scenario. Understanding these limitations helps businesses choose the right payment method and avoid operational issues.
- Customers without smartphones
QR code payments require customers to scan a code using a smartphone. For businesses serving older demographics or environments where mobile usage is low, traditional card terminals may still be necessary. - High-value or complex transactions
For very large transactions, some customers prefer card-based payments or bank transfers initiated through familiar channels. In these cases, QR payments may be better suited as a secondary option rather than the primary checkout method. - Businesses requiring offline payments
QR code payments depend on internet connectivity for both the merchant and the customer. In locations with poor connectivity, card terminals with offline modes may offer more reliability. - Limited bank coverage with some providers
Not all QR code payment platforms support the same level of UK bank coverage. Choosing a provider with limited support can lead to failed payments and poor customer experience. - Including QR code payments alongside other methods often provides the best balance between cost savings, speed, and customer flexibility.
What are the benefits of QR code payments for retailers?
Lower fees, faster settlement, mobile checkout, and easier setup. QR codes are ideal for busy counters, events, and on-the-go sales.
Which QR code payment API is best for UK businesses?
Finexer is a top UK-first API for QR code payments with instant settlement. Stripe, Square, and PayPal also offer QR features.
Do QR code payments support bank transfers in the UK?
Yes, some UK providers like Finexer and Stripe offer QR codes linked to bank accounts via Open Banking, enabling instant transfers.
Cut card processing fees and enable instant QR code payments across your retail locations. Book a call with Finexer to get started—no setup fees.