The video discusses the advantages of QR codes over NFC payments like Apple Pay, especially in developing countries where smartphones are expensive. QR codes are more accessible and cost-effective for both consumers and merchants. The global adoption of QR codes is driven by Chinese companies like WeChat and Union Pay, which have established a global standard for QR codes. This standard addresses security and interoperability issues, facilitating global adoption. The video also explores the trend towards a cashless society, with China leading the way in QR code payments.

Why are QR codes more accessible than Apple Pay in developing countries?

• They are only compatible with iPhones.

• They are not widely available.

• They can be used on feature phones and less advanced smartphones.

• They require expensive terminals.

What is a major advantage for merchants using QR codes?

• They need to buy costly equipment.

• They can easily print and display QR codes.

• They require a special app to scan QR codes.

• They need to partner with a bank.

What role do international credit card companies play in the global adoption of QR codes?

• They are developing their own payment systems.

• They are opposing the use of QR codes.

• They are adopting the Chinese standard for QR codes.

• They are creating a new type of QR code.

Which countries are mentioned as adopting the Chinese QR code system?

• Brazil and Argentina

• Australia and New Zealand

• India and Thailand

• Germany and France

How is the concept of a cashless society illustrated in the video?

• By discussing the decline of online payments.

• By highlighting the use of credit cards in stores.

• By demonstrating QR code payments to street performers.

• By showing the use of coins in subway stations.