QR Code Payments: Key Takeaways For Doctors And Dentists


The QR code is a symbol that was developed in Japan, and it has been used in various parts of the world for over 20 years. Over the past decade, QR codes have become a common sight in everyday life—especially since the onset of COVID-19.

Despite this increase in popularity, not many people are familiar with the potential of QR codes to transform the way consumers and businesses make and accept payments. In this article, the 


 team will be doing a deep dive into QR codes and QR code payments. Specifically, we’ll be looking into how this open banking technology can be an affordable payment solution for doctors and dentists with private practices.

Let’s get started!

What are QR codes?

The technology that supports 

quick response (QR) codes

 was invented in Japan in 1994 by a company called Denso Wave. They were originally designed for tracking parts in manufacturing plants, but quickly found other uses. QR codes became popular outside of Japan in the early 2010s, and are now used all over the world for a variety of purposes, including:

  • Collecting Information

  • Check-ins

  • Distributing Marketing Materials

  • Making Payments

QR codes are a type of 

matrix barcode


two-dimensional barcode

) that can be scanned by a machine to quickly and easily access information encoded within it. QR codes can encode up to 100X more information than standard, non-matrix barcodes—a fact which has led to their widespread adoption in recent years.

There are two main varieties of QR codes:

Static QR Codes

Static QR Codes are the most common type of QR code. They are created by generating a fixed set of data that is encoded into the QR code image. Once the data is encoded, it cannot be changed or updated. This makes static QR codes less flexible than dynamic QR codes, but they are also simpler to create and manage. Because of this, static QR codes are most often used for quick and easy tasks like sharing a website URL or displaying a small amount of text.

Dynamic QR Codes

Dynamic QR Codes are less common than static codes, but offer more flexibility because they can be updated after they have been created. This means that the data encoded in a dynamic QR code can be changed at any time, which makes them a useful tool for tracking inventory, storing sales data, or other changing information. Dynamic QR codes are also more secure than static codes, as they can be updated with new security measures if needed.

Now that we know what QR codes are, let’s take a look at how they can be used in the world of payments.

What are QR code payments?

QR code payments are a type of mobile payment (a payment that is made using a mobile device). Mobile payments can be made 



, or via 

peer-to-peer (P2P) transfers


As the name suggests, QR code payments use QR codes to store and relay data about a purchase from the seller to the buyer. When the buyer scans the QR code, they are redirected to their banking app, where they can confirm the payment. Once the payment is confirmed, the funds are transferred from the buyer’s account to the seller’s account almost instantaneously.

How do QR code payments work?

QR code payments are fairly self-explanatory. QR code payments work by using dynamic QR codes to encode information about the purchase (i.e., 


seller information

, etc.).

To accept QR code payments, a merchant first needs to create QR codes that contain information about the products or services they’re selling. Usually, this is done through a service like Fena which also stores information about the bank account the merchant would like their funds redirected to. 

Once generated, these QR codes can be scanned by customers. Doing so brings the customer to their banking app, where they’re free to make the payment without needing to enter any of the merchant’s banking information themselves.

What are the benefits of QR code payments?

There are a number of benefits associated with QR code payments:

  • QR code payments are fast and convenient

    . QR code payments can be processed almost instantaneously, which is a major benefit for both buyers and sellers.

  • QR code payments are secure

    . QR code payments are more secure than traditional methods like cash or checks, as they involve less handling of sensitive information.

  • QR code payments are flexible

    . QR code payments can be made in-person, online, or via P2P transfers. This makes them a versatile payment option for a variety of situations.

  • QR code payments are inexpensive

    . QR code payments are a low-cost payment option, which makes them attractive for both buyers and sellers.

What is open banking?

In addition to QR codes themselves, another practice is necessary to make QR code payments possible: 

open banking


To understand what open banking is, it’s helpful to understand communication flows  traditionally employed in banking. In the traditional banking system, the lines of communication between 

financial service providers

third-party developers



, and 


 are very linear. For example, consumers can easily share information with their banks and vice versa, but it’s incredibly difficult for consumers and merchants to share information with each other.

With open banking, these linear lines of communication are dissolved. Now, financial service providers, third-party developers, consumers, merchants, and suppliers can all share information with each other in real-time. This allows for a more fluid exchange of data between all parties involved and makes QR code payments possible.

How does open banking work?

Open banking is made possible by the fact that banks are now able—and, in some cases, required—to provide third-party developers with the ability to access customer data through 

Application Programming Interfaces



). This data can then be used to develop new applications and services that make it easier for consumers to manage their finances.

If you download a budgeting app from the app store, you have the option to give that app access to your checking account. Once you have, the app is able to analyse your spending and provide you with money-saving suggestions.

Similarly, when you download a QR code payment processor like 


, you’re able to give the app access to your banking information. Once you have, customers can pay you via bank transfers using the QR codes you generate without either party being required to share their banking information. That’s open banking at work!

What are the benefits of open banking?

There are a number of benefits associated with open banking, including:

Inexpensive Service Options

Open banking has resulted in more competition within the financial services industry. That means corporations and developers are incentivised to  keep costs low in order to attract and retain customers. As a result, many of the services that are built on top of open banking are less expensive than their traditional counterparts.

Easy Payments with Devices

Open banking allows merchants to initiate payments through third-party providers. As a result, consumers can use their smartphones and other devices to make payments without having to enter their payment information each time.

This makes it easier for consumers to pay for goods and services, as they no longer have to carry around cash or credit cards. In addition, open banking allows consumers to take advantage of special offers and discounts that are available through third-party providers.

Better Security

With open banking, your data is better protected because it’s not being stored in a central location. Instead, it’s distributed across multiple parties, which makes it more difficult for hackers to access.

Easy Currency Exchange

Open banking also allows consumers to transfer money and exchange currencies easily and quickly. This is done by providing the consumer with a single platform that allows them to access a variety of services, such as money transfers and currency exchanges.

This makes it easier for consumers to send money to friends and family members, as well as to purchase goods and services from overseas. In addition, open banking allows consumers to take advantage of special rates and discounts on money transfers and currency exchanges.

Improved Customer Experience

Open banking also allows financial institutions to offer a better customer experience. This is done by giving customers access to a wide range of products and services through a single platform.

This makes it easier for consumers to find the products and services that they need, as well as to compare the rates and features of different products. In addition, open banking allows financial institutions to offer a more personalised experience for their customers.

How can doctors and dentists use QR codes?

There are a number of ways that doctors and dentists can use QR code payments. For example, they can use QR codes to:

  • Accept payments from patients

  • Market new services

  • Make important announcements

There are a number of benefits associated with using QR code payments in the medical field, including:

Quick and Easy Payments

QR code payments are quick and easy to use, which makes them ideal for making payments in a medical setting. This is because it’s often difficult to get time away from your patients to make a payment. With QR code payments, you can simply scan the code and the payment will be processed quickly and easily.

No Card Fees

Most credit card companies charge a fee for processing payments. This can add up over time, which is why many doctors and dentists are starting to use QR code payments instead. With QR code payments, there are no card fees, which means you can save money in the long run.

Better Security

QR code payments are more secure than credit and debit card payments because they’re less susceptible to fraud. There is no merchant banking information contained within the QR code itself. In addition, the customer makes the payment through their own banking app, meaning no sensitive information is shared.

Improved Customer Experience

QR code payments also offer a better customer experience. Consumers love having access to a variety of ways to pay for goods and services. Plus, QR code payments are intuitive, secure, and fast—all things consumers look for when making payments.

How can you accept QR code payments at your private practice?

If you’re interested in implementing QR code payments at your own private practice, you’re in luck—the process is incredibly easy!

Step 1: Choose a QR code payment processor

To start accepting QR code payments, you’ll need to find a dedicated QR code payments service to use. A QR code payments service does two, very important things:

  1. QR Code Generation

    : Generating unique QR codes for patients to use based on the services they purchased.

  2. Payment Processing

    : Accepting payments and redirecting funds to the merchant’s bank account.

Fena provides both of these services through our 

Fena Merchant

 app (available on both the App Store and Google Play).

Step 2: Register with payment processor and link bank account

Once you’ve downloaded the 

Fena Merchant

 app, you’ll need to register for an account and link your bank account. This only takes a few minutes, and is required, so we can verify your identity and set up your account correctly.

Step 3: Start advertising QR code payments

After your account is all set up, you’ll be able to generate QR codes for patients to use when paying for check-ups and appointments. However, you’ll need to advertise your new payment option. We recommend placing an example QR code in your waiting room that advertises and explains the service.

Step 4: Process payments

When a patient is ready to pay, they’ll simply scan the QR code you send them with their smartphone and follow the on-screen instructions. The payment will be processed in real-time, and the funds will be transferred to your linked bank account 

within seconds

, not days.

Bottom Line

QR code payments offer a number of advantages for both doctors and patients. They’re quick and easy to use, which makes them ideal for making payments in a medical setting. In addition, QR code payments offer better security than traditional credit card payments. This makes it easier for doctors and dentists to manage their finances and run their business in a way that prioritises patient care.

If you’re a doctor or dentist looking to accept QR code payments at your private practice, we recommend using the 

Fena Merchant

 app. With Fena, you can generate QR codes for patients to use when paying for check-ups and appointments, and the payment will be processed quickly and easily. In addition, you’ll be saving up to 85% of your transaction costs as compared to standard card transactions.

To get started, simply download the Fena Merchant app or register for an account online!