The working principle of the technology is that the recipient creates a QR code in his bank’s application and presents it at the checkout. The merchant scans the code and the money is then collected via the Fast Payment System. Each code is valid for only one transaction, increasing payment security.
According to bank representatives, the development will allow payments without the use of POS terminals and additional equipment. You only need a smartphone with a camera to perform the transaction and no Internet connection is required during payment.
The pilot project will last until April 1, 2026.
Source: Ferra
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