VTB will launch payment for purchases abroad using QR code

“The new functionality allows you to pay for purchases in foreign stores in the usual way: simply point the app’s QR code scanning camera at the payment code on the receipt or on the terminal; the payment will be made instantly,” the bank said .

They clarified that payments are made in rubles with subsequent conversion to the national currency of the host country. No commission is charged to clients. The limit for one transaction is from 10 to 350 thousand rubles.

The service has been tested in one of the neighboring countries and in the first half of 2025 it will begin to work in other similar countries. In the second half of the year, the technology will be available in “friendly” countries near and far abroad. The bank emphasized that VTB Online users will receive notifications about the availability of the service in a particular country. The names of the countries were not revealed there.

In the first stage, QR code payments will be available only to VTB customers, but in the first half of 2025, VTB “will be ready to provide the technology as part of partnerships with international banks and fintech companies in friendly countries.” “. noted the head of the “Transfers” department of the transaction department of the VTB retail business, Alexey Khranilov.

In February, US authorities imposed sanctions against the National Payment Card System, which operates Mir cards. After that, they were subject to payment restrictions in several countries, including Armenia, Kyrgyzstan, and Kazakhstan.

In April, the Bank of Russia announced that it was looking into options for using Mir cards abroad under sanctions. Possible solutions to this problem include expanding the ATM network of foreign subsidiaries of Russian banks and introducing the Faster Payment System.