FedEx QR Pay targets SMEs in five major Asian markets

Transport company FedEx has launched a QR-code based mobile payment system in Hong Kong, Malaysia, Philippines, Singapore, Thailand and Australia. The system, FedEx QR Pay (the QR stands for quick response), is targeted specifically at SMEs.

Supplementing the firm’s existing online payment methods, FedEx QR Pay is a secure mobile payment option activated by QR codes embedded with unique payment links. QR Pay eliminates the need to have shopping carts, booking engines or checkouts, allowing customers to make payments with credit cards and e-wallet services.

FedEx’s president for Asia Pacific Karen Reddington said: “FedEx is constantly looking for ways to innovate, pioneer new solutions and offerings to address customers’ evolving needs in the region … QR Pay provides greater flexibility and convenience for our customers, and ultimately a better experience when it comes to managing their logistics needs.”

Asia Pacific leads the world in mobile payment with 53 per cent of connected consumers using their mobile devices to pay for goods or services at point of sale. Rising mobile penetration is a key driver, with the number of smartphone users across region now over a billion. Seeing the clear trend towards mobile payment adoption, SMEs are also harnessing new technologies to expand their business.

According to a recent research commissioned by FedEx, 73 per cent of SMEs are already current users of mobile payments, with 69 per cent of these businesses likely to increase usage in the next 12 months. Thirty per cent of current non-users are likely to begin using mobile payments as well.

FedEx QR Pay will soon be expanded to other markets in Asia Pacific.