Russian banks have started accepting payments using QR codes through the fast payment system (FPS) abroad. The plan already works in Turkey, Tajikistan, Uzbekistan, as well as in Cuba and Thailand, as reported by Izvestia.
This opportunity has been created by at least two Russian credit organizations. To do this, they negotiated with local banks.
To complete it, the customer only needs to scan the QR and confirm the action. Now there are not many places abroad where this method is accepted, but payments are already being made. More partner banks need to be connected, says Ilya Ivaninsky, partner at Yakov and Partners.
The Central Bank noted that the market flexibly adapts to current conditions and finds solutions to accept non-cash transactions from citizens.
The development of new payment methods was triggered by the departure of Visa and Mastercard from Russia. Local banks that were subject to blocking sanctions lost the ability to issue new Visa and Mastercard cards. After leaving the Russian market, Visa lost $35 million; spent $25 million to support employees in Russia and Ukraine.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
