What are the Benefits of Accepting Payments Using QR Code
Why not just make a transfer using a person’s bank account? You may ask. Here’s why it’s better to use a QR code.
The Convenience of Transfer
Instead of memorizing or retrieving your bank account numbers and typing each digit manually (why would you do this, right?), simply send them your QR code via Messenger or Whatsapp, and you’re all set.
Now, you can avoid the stress of sending funds to an unknown recipient just because you mistyped his account number (zero instead of 9). With QR codes, it’s 100% safe and accurate. No more manual typing of 10-digit numbers.
Do you have multiple bank accounts, like personal and business accounts? Now you can customize a nickname for your QR codes so you and your sender can easily recognize the QR codes.
Gone are the days when online transfers took 24 hours before its posted in your account. With real-time transfers, your account will update instantly once you send or receive funds.
Complete List of Participating Local Banks Using Instapay QR Code
With the Instapay QR Code, you can send or receive funds from these partner apps and websites. Pretty convenient, right? Here’s the list in alphabetical order.
Step 2: On the menu, click or tap “Account Maintenance“
Step 3: Tap “Limits and Spending“
Step 4: Now you can see your current limits. Tap “Change limits” to adjust
Step 5: Adjust your limits for unenrolled accounts, e-wallets, other banks or Pesonet transfers accordingly. Allocate the limits the way you want it for as long as the aggregated amount is ₱250,000. Once done, click “Save” to update the changes
What is a QR Code?
A QR Code, or Quick Response Code, is a two-dimensional code that can be scanned with most smartphones or tablets to view content. This type of code is used for various types of applications, including marketing campaigns and point-of-sale systems.
It can also link users directly to websites, store information such as addresses or contact details, and even make payments. Generating a QR Code for BPI is easy and requires only basic knowledge of how the technology works.
Frequently Asked Questions
Are there fees when transferring money through the BPI QR code?
Transferring via QR code from BPI to BPI is free regardless if it’s enrolled or not. But for other local banks, there is still a service fee of ₱25.00 for every transaction.
Can I send money to QR codes from other banks?
Yes, you can! BPI QR codes are powered by Instapay, so you can send and receive money transfers from participating banks and e-wallets.
Where can I find QR code for BPI?
You can find the QR code generator for BPI in BPI mobile app or BPI’s website. Refer to the section on how to generate QR code BPI for the complete steps.
BPI QR codes is used to send or receive online fund transfers and payments. Its convenient feature promotes fast and error-free online transfers.
In conclusion, QR code-based money transfers have revolutionized how we transfer money. They are fast, easy to use, and highly secure, meaning that anyone with a smartphone can send or receive payments in just a few clicks. Furthermore, QR code transfers offer extraordinary security measures, which makes them more reliable than other online payment methods.
It’s no surprise that they are becoming increasingly popular among everyday users. We can expect to see even more features added to QR codes soon, making them even more convenient and accessible for everyone.
To experience the benefits of QR code-based money transfers now, why not find a provider who offers this service?
Hi there! I'm Daveril Dabuco, the man behind Juan Investor, one of the top personal finance blogs in the Philippines. I’m passionate about investing and digital marketing. When I’m not blogging, I’m either tinkering with my clients’ Facebook ads or beachbumming. You can read more about me.
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