A new report from JP Morgan says that QR codes, the black and white checkerboard-style UPCs favored by local company LevelUp, are likely a winning tactic, since mobile payments will become a $545 billion global market by 2015.
MediaPost’s Mark Walsh wrote about the report, highlighting the find that “simplified checkout without sacrificing security is a fundamental value proposition built into most mobile commerce models.”
LevelUp has been working on making its system more intuitive. Currently users load an app on their smartphone, which presents a QR code that gets scanned by another mobile phone at the merchant.
The company revealed a revamped scanning mechanism at SXSW, made possible through a low-cost MakerBot 3D printer that allowed quick, in-house prototyping.