The Times Australia
The Times Technology News

.

Chemist Warehouse introduces QR code payments

  • Written by The Times

Australians will now be able to pay by QR code at Chemist Warehouse. The code will allow shoppers to input their bank details and pay directly, avoiding fees charged by Visa and Mastercard.

This rollout comes alongside the Treasurer today announcing a government ban on debit card fees.

Finance expert Dr My Nguyen is available for comment.

Dr My Nguyen, finance and banking

“Chemist Warehouse's introduction of QR code payments is a strategic move to avoid the high costs associated with card surcharges, which amount to millions annually.

This method, known as ‘Pay by Bank,’ allows customers to make direct payments from their bank accounts by scanning a QR code, bypassing intermediaries like Visa and Mastercard.

“The benefits of QR code payments are significant. For retailers like Chemist Warehouse, they can substantially reduce transaction fees, which can be as high as 1.5% for card payments. These savings can potentially be passed onto consumers in the form of lower prices.  QR codes can streamline the payment process, allowing for quick and easy transactions without the need for physical cards or additional hardware. The encryption of payment information within QR codes also enhances security, reducing the risk of fraud compared to card payments.

“However, there are some risks and challenges associated with QR code payments. Despite security measures, there is a risk of scanning fraudulent QR codes, leading to unauthorised transactions. Consumers may also be hesitant to adopt new payment methods, especially if they are accustomed to using cards. Furthermore, QR code payments rely on smartphone technology and internet connectivity, which could pose challenges in areas with poor network coverage.

“Chemist Warehouse aims to reduce its annual $15 million expenditure on card surcharges by adopting QR code payments, thereby lowering operational costs and potentially passing on savings to consumers. This move aligns with global trends where QR code payments are becoming increasingly popular, such as Southeast Asia and India.

“In Australia, several major retailers have already adopted QR code payment systems. Muji, Vodafone, MJ Bale and L’Occitane have integrated QR code payments through ePay. Additionally, Commonwealth Bank, National Australia Bank, Coles and Woolworths have partnered with Eftpos to support the rollout of a new eQR payment system.

“As more businesses recognise these benefits, we can expect wider adoption of QR code payments in the retail sector.”

Dr My Nguyen is a Senior Lecturer in Finance who specialises in market competition, empirical corporate finance, banking, sustainable finance and digital financial services. 

Times Magazine

Building a Strong Online Presence with Katoomba Web Design

Katoomba web design is more than just creating a website that looks good—it’s about building an online presence that reflects your brand, engages your audience, and drives results. For local businesses in the Blue Mountains, a well-designed website a...

September Sunset Polo

International Polo Tour To Bridge Historic Sport, Life-Changing Philanthropy, and Breath-Taking Beauty On Saturday, September 6th, history will be made as the International Polo Tour (IPT), a sports leader headquartered here in South Florida...

5 Ways Microsoft Fabric Simplifies Your Data Analytics Workflow

In today's data-driven world, businesses are constantly seeking ways to streamline their data analytics processes. The sheer volume and complexity of data can be overwhelming, often leading to bottlenecks and inefficiencies. Enter the innovative da...

7 Questions to Ask Before You Sign IT Support Companies in Sydney

Choosing an IT partner can feel like buying an insurance policy you hope you never need. The right choice keeps your team productive, your data safe, and your budget predictable. The wrong choice shows up as slow tickets, surprise bills, and risky sh...

Choosing the Right Legal Aid Lawyer in Sutherland Shire: Key Considerations

Legal aid services play an essential role in ensuring access to justice for all. For people in the Sutherland Shire who may not have the financial means to pay for private legal assistance, legal aid ensures that everyone has access to representa...

Watercolor vs. Oil vs. Digital: Which Medium Fits Your Pet's Personality?

When it comes to immortalizing your pet’s unique personality in art, choosing the right medium is essential. Each artistic medium, whether watercolor, oil, or digital, has distinct qualities that can bring out the spirit of your furry friend in dif...

The Times Features

How much money do you need to be happy? Here’s what the research says

Over the next decade, Elon Musk could become the world’s first trillionaire[1]. The Tesla board recently proposed a US$1 trillion (A$1.5 trillion) compensation plan, if Musk ca...

NSW has a new fashion sector strategy – but a sustainable industry needs a federally legislated response

The New South Wales government recently announced the launch of the NSW Fashion Sector Strategy, 2025–28[1]. The strategy, developed in partnership with the Australian Fashion ...

From Garden to Gift: Why Roses Make the Perfect Present

Think back to the last time you gave or received flowers. Chances are, roses were part of the bunch, or maybe they were the whole bunch.   Roses tend to leave an impression. Even ...

Do I have insomnia? 5 reasons why you might not

Even a single night of sleep trouble can feel distressing and lonely. You toss and turn, stare at the ceiling, and wonder how you’ll cope tomorrow. No wonder many people star...

Wedding Photography Trends You Need to Know (Before You Regret Your Album)

Your wedding album should be a timeless keepsake, not something you cringe at years later. Trends may come and go, but choosing the right wedding photography approach ensures your ...

Can you say no to your doctor using an AI scribe?

Doctors’ offices were once private. But increasingly, artificial intelligence (AI) scribes (also known as digital scribes) are listening in. These tools can record and trans...