03/25/2013 | 1:22 PM

JP Morgan report backs LevelUp’s QR code strategy

By Michael Morisy, Boston.com Staff
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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.

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About this blog

The Inside the hive blog is your one-stop source for local innovation news featuring voices from the start-up, venture, and research communities. Reach us at hive@boston.com.

Michael Morisy is your editor, curator, and reporter on all things innovative and startup in Boston and beyond. He’s blown a SXSW talk, been threatened with jail for his own startup, and exchanged enough useless business cards to rebuild the rain forest. Now he wants to share your stories of creating the next insanely great business.
Contact michael.morisy@boston.com
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