Russian Standard Bank enables QR code payments in FPS - Information portal

Russian Standard Bank enables QR code payments in FPS

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05.08.2019 Количество просмотров 132 views
Банк Русский Стандарт.jpgRussian Standard Bank has provided technical facilities to connect the first corporate client, the Strelka bar in Moscow, to the QR code payment acceptance service in the Bank of Russia’s Faster Payment System (FPS). 

From the effective date of the amendments to the Bank of Russia Regulation “On the Payment System of the Bank of Russia”, which allow payments to legal entities to be made in FPS , Strelka guests will be able to pay their bills using this technology. Just as the reminder, the launch of QR code-based c2b transfers in FPS is scheduled for the end of this year. 

The QR code payment technology is very simple and resembles other contactless payment services. The buyer will need to select the FPS payment option, scan the QR code using the m-app of his/her bank on the smartphone and confirm the payment in the application. Money from the buyer's account will be credited to the retailer’s account almost immediately after the purchase. 

“QR code-based payments for goods and services are getting increasingly popular in the world. In Russia, customers of banks participating in FPS will be able to make such payments quickly and securely from their bank’s mobile applications,” says Dmitry Kolesnikov, Director for Innovative Services Development, National Payment Card System

“The new service allowing QR code-bsed c2b transfers via FPS will significantly reduce merchants’ costs to become another non-cash payment channel along with cards. Lower costs are always good for the offers aimed at the end user,” said Inna Emelianova, Head of Acquiring at Russian Standard Bank.
Source:  Russian Standard Bank


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