QR codes are a great way to interact with users of the mobile web guiding them from print resources to your web links, but can you use QR codes for SEO purposes? At this time my feeling is maybe but most likely not in the way you thought.
If you generate your QR code and then save the image to your own server you are most likely defeating any SEO benefits. If you are using a generator that saves your image on their server and you just point to the image there, there may be some small benefit of link juice you may capture or search engine discovery, but not enough in my mind, to warrant linking to the image location off site. If you are shrinking your link and the link shrinking service is saving the link URL and history you may get a small benefit.
QR codes are images and are read with an optical device, so this means that Google cannot spider nor read the images and so putting QR codes on your website will do nothing for SEO purposes. Although Google is not indexing QR codes, it is embracing them. Here’s how. Visit Google’s link shrinker at http://goo.gl/. Shrink your link, then paste your link in your browser address bar and add .qr at the end. Go to the link and you will see that Google has automatically made a scannable QR code for your link. Additionally if you are logged into your Google account when you shrink your link, Google will keep a history of your links as well as the number of clicks recorded visiting the link.
Although search engines can’t read QR codes, if you make your codes with the URL shrinker at Google, Google will keep a history of the links and may discover your pages on its own, but will QR codes improve your organic placement like blogging content will, no, but they are cool to use for connecting with mobile web users and definitely a technology to use and keep a careful eye on.