The National Payment Card System (NPC) completed the introduction of a universal QR code in the Fast Payment System (FPS) network, the operator’s press service reported.
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It is now used by 207 banks and more than 4.8 million points of sale connected to the SBP and, in the future, with digital rubles, the NSPK stated.
“Connecting to a universal QR code and accessing technology is possible for all banks on equal terms. This gives them the opportunity to compete fairly,” noted Dmitry Dubynin, CEO and Chairman of the Board of Directors of NSPK.
According to him, a pilot project was launched in the summer with the participation of 22 banks and the results were positive. The implementation of the universal QR code was completed ahead of schedule across SBP’s procurement network. Since the end of June, users have made more than 17 million payments with its help, Dubynin noted.
- The Bank of Russia’s plans to introduce a unique QR code for paying for goods and services became known in November 2023. The Central Bank explained that many QR codes on checkouts can confuse customers and make cashless payments difficult. A universal QR code solves this problem by allowing customers to select an invoice to pay.
- At the end of June 2024, the Central Bank began testing a universal QR code. VTB, Sovcombank and Dom.RF, etc. participated in the pilot project. And at the end of September, Sber, Alfa-Bank and T-Bank signed a memorandum on the creation of a consortium to develop new payment solutions, including the only one. QR code.
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.
