The Bank of Russia proposes to transfer control of the universal QR code to an “equidistant operator.” This will help “eliminate the dependence of market participants on the largest players and thus help maintain a competitive environment,” writes Kommersant.

The Bank of Russia proposed transferring control of a unique QR code to an “equidistant operator”

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The QR code will provide users with the opportunity to independently choose a payment instrument: SBP, payment service of any bank and others, as noted in the review of the Central Bank “Digitization of payments and introduction of innovations on the market of payments”.

The regulator has been developing the concept of a unique QR code to pay for goods and services for more than a year. Experts see the National Payment Card System (NSCP), owned by the Central Bank, as a candidate. However, they are not sure that the appearance of a universal QR code will increase the popularity of this type of payment, since the mechanism does not solve the main problem: the long customer journey.

Banks would prefer a structure made up of market participants.


Karina Pardaeva

Source: RB

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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.


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