Russian banks have introduced the refund of purchases using QR codes through the Fast Payment System (FPS). The amount of the remuneration varies from 1% to 10%, Izvestia discovered.
In December, the program was launched by Alfa-Bank, electronics stores re:Store, Samsung and Xiaomi joined the campaign. Until January 31, Sinara Bank also introduced the action: customers will receive 1.5% of the ruble purchase amount to their account.
As of January 1, 2023, MCB clients will be able to receive cashback for transactions through the SBP from 1% to 7%, depending on the chosen category. A similar program is being considered at VTB, Otkritie and Absolut Bank.
The significant growth of transactions through SPB was influenced by the active development of payment technologies using QR codes, the departure of international services and the pattern already developed by citizens of “paying” by phone, experts say.
Analysts doubt that QR code payments will compete with card payments in the near future, as it takes time to update terminals and the user experience. But it is not excluded that at some point the former will take a more significant share of the market.
Author:
karina pardaeva
Source: RB
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