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The consumer uses his/her mobile phone to scan a simple QR code at the cash register terminal. The terminal is connected to Seamless' transaction platform and the QR code identifies the cash register that the customer is using. Seamless' platform then responds with a list of items entered and an amount to be paid. The consumer can thereafter pay directly using his/her mobile phone. The transaction takes approximately half the time of a standard card payment transaction.

The retail and grocery trade sectors currently pay high fees to credit card companies in order to use their services. In addition, they are required to invest in new card payment terminals every time a new standard is introduced. In the US, retailers pay $49 billion each year in credit and debit card fees. With Seamless`solution, retailers have a chance to halve their current costs.

Why are U.S. retailers slow to adopt NFC payment technology? One reason is the expense and effort required to install NFC-enabled point-of-sale equipment in stores and to integrate it with merchants' systems.

It's a bit of a chicken-and-egg dynamic: Retailers typically don't invest in offering a new payment option until they see widespread consumer demand; but few consumers are likely to prefer a payment option that's not yet widely accepted.

Another Open Mobile Summit panelist, PayPal's VP for mobile, David Marcus, made this point: "Today, retailers learn about customers at the least effective time -- just when they're leaving the store. They'd like to know about you when you arrive at the store, so they can customize your shopping experience and treat you properly."

Proximity based, action oriented marketing solutions saw an exponential growth to its demand last year, and a Smith’s Point Analytics report is now suggesting that it may bring this market to the $2.3 billion mark by the year 2016.

According to the report’s author, Peter Crocker, “QR codes and proprietary 2D barcodes are popping up everywhere and we estimate that outside of Japan, 164 million unique codes will be created in 2012.”

QR Pal now rewards users for scanning and sharing QR Codes with points. Each month the top three scanners with the highest number of points will be rewarded with a cash prize.

Users are also able to instantly share scans via MMS, e-mail, Twitter, Facebook and LinkedIn. Simply authorise the App with your social media accounts to start sharing. QR Pal also includes a payment feature which enables users to make and receive payments via PayPal.

QR codes on the labels of shipped products or invoices can help generate repeat orders and facilitate online payments.

QR codes on postcards can direct potential buyers instantly to an online catalog, optimized for mobile device viewing, to review available products and services.

If your product or service requires a demonstration, a QR code can direct your prospects to an online video.

When the customers used the QR codes to reach the portal, they now have many options available. Those who scan the QR codes are able to pay their bills on the internet, but they can also have a look at detailed information regarding their energy use, and read about rebate programs and energy savings tips that can help them to reduce the amount they are spending on this service. House added that “It’s a kind of one-stop-shop for members.”

Online retail sales were about $60 billion in 2011, roughly 15% of total retail sales, according to Forrester. That is up 2 percentage points from 2010 and 9 percentage points from 2005.

Mobile is currently only 2% of online retail sales, or about $6 billion.

About 16% of consumers use mobile devices to look up product information, 30% use them to look up store hours and 23% use them to locate a store.