Sberbank launches QR-codes payments in Russia

"Sberbank" and the payment system "YuMoney" belonging to it join to the service of payments by QR codes of the Fast Payments System (SPB). Individual users of SberBank Online were the first to gain access to the function in test mode, and by the end of July it will become available to everyone (if the test results are successful).

Sber's customers will only need to scan the QR code at the store's checkout or follow a special link on the online platform to pay for the selected goods. QR codes come in two flavors: either a sticker with a fixed code for a store, or a one-time e-code for a specific purchase.

Earlier in November, the Central Bank ordered systemically important banks to connect payment by QR codes of the UBS until September 1, 2021, but within the framework of the St. Petersburg International Economic Forum, which took place in June in St. Petersburg, Vladimir Putin offered compensate small businesses for the commission for using the SPB, and recommended that large banks introduce the new system earlier - by July 1.