FREMONT,
Calif., Aug. 21, 2024 /PRNewswire/ -- Socket
Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and
delivery solutions designed to enhance workplace productivity, is
excited to announce the launch of the SocketScan S320, a countertop
QR code payment reader designed to facilitate consumer-presented QR
code operations. With a primary focus on QR code payments, the S320
provides a reliable and efficient solution for consumers to
complete transactions by simply presenting their QR code
credentials.
The global QR code payment market was valued at $11.2B in 2022 and is rapidly growing at 16.5%
CAGR. QR codes have quickly become a widely recognized and adopted
payment method, particularly in regions where traditional payment
systems have seen lower adoption rates. Countries throughout
Asia and Latin America have embraced QR code payment
systems as a cost-effective solution to digitize payments, with
platforms such as Alipay and WeChat Pay leading the way in
China—where more than 80% of domestic payments are made using QR
codes.
"We are delighted to continue to serve our retail POS
application providers by introducing the S320 as the new go-to
solution for QR code payments," said David
Holmes, Chief Business Officer at Socket Mobile. "As QR code
transactions have become a common requirement across retail
industries, the S320 offers a comprehensive solution for our app
providers to support these customer interactions. It enables quick
QR code payments while also supporting additional
consumer-presented QR code operations, such as loyalty and digital
IDs from mobile wallets and apps. This makes it an essential tool
for our retail POS application partners, providing a versatile,
easy-to-integrate solution that speeds up customer transactions,
streamlines payment processes, and facilitates an effortless user
experience."
In 2020, there were 1.5 billion users of QR codes for payment,
accounting for 4% of all payment transactions. By 2025, this number
is projected to rise to 2.2 billion users, representing 29% of all
smartphone users globally. The S320 is designed to meet the needs
of this expanding market, offering merchants a way to reduce fees
associated with traditional transaction systems while providing
seamless support for customers using QR code payments. The device's
compatibility with iPad solutions ensures a smooth and
straightforward integration process for businesses using iOS
platforms while also supporting Android systems to cater to a broad
market. Portable and adaptable, the S320 fits almost anywhere, runs
on battery power or plugged into a power outlet, and effectively
reads QR codes from paper, labels, and mobile wallet or app
screens. Its sleek countertop design and high-performance scanning
capabilities empower customers to complete QR code transactions
quickly and effortlessly.
In addition to QR code payments, the S320 supports various other
applications, such as age verification, access control or ticket
acceptance for secure environments, and loyalty and couponing
programs. Its advanced technology is matched by a convenient,
user-friendly design—effortlessly handling a broad spectrum of
scanning tasks even in fully mobile, wireless settings.
Application developers who wish to integrate the SocketScan S320
can do so through Socket Mobile's CaptureSDK. For app developers
who have already integrated CaptureSDK, the S320 is already
natively supported.
The SocketScan S320 is now available through Socket Mobile's
distribution partners or through the Socket Mobile
Website with an MSRP of $189.
Media Contact: David Holmes,
David.holmes@socketmobile.com
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SOURCE Socket Mobile, Inc.