Payment by QR code: is it profitable for buyers

Last year, many online stores began to offer customers to pay for goods via a QR code. For choosing this method of calculation, they promised a discount.

In 2022, when Apple Pay and Google Pay stopped working in Russia, QR codes began to be offered at offline points as well. We understand what kind of payment method it is and whether it is worth choosing.

How to pay for purchases using a QR code

The calculations are made through fast payment system (SBP). It allows you to instantly and free of charge transfer up to 100 thousand rubles per month by phone number or QR code. SBP appeared in 2020, and it was thanks to it that it became possible to send money to friends to another bank without a commission. Clearly, this is also possible to settle accounts with sellers.

It works as follows. The store provides the buyer with a QR code, which contains the purchase amount and details of the recipient of the transfer. The client needs to read this code. There are several tools with which this can be done.

1. Through smartphone camera

Just open the camera, it will recognize the code and prompt you to go to the banking application. There is a nuance: if you have several of them, it can take you to the wrong place. The application will already need to confirm the transaction.

2. Through the bank application

Usually it has a corresponding icon or button that opens the camera already in the banking application. Farther translation also needs to be confirmed.

3. Through the application "SBPey"

AT Appendix you add data not cards, but accounts. The rest of the process is about the same: scan the QR code, confirm the transfer.

Why shops are interested in paying by QR codes

It happens that in stores at the checkout they are urged to pay by QR code. And sometimes they give discounts. Seems like why?

It's about money. When customers pay by card, the store pays an average of 1–2.5% of the transaction amount for offline acquiring, and up to 5% for online sales. When paying by QR code, the commission is 0,4–0,7%Questions and answers for business / SBP. Even if the difference between, say, 1% and 0.4% seems insignificant, with a large volume of sales it will already be amounts with several zeros.

So for businesses, paying by QR codes is simply beneficial.

What are the pros and cons of paying by QR codes for the buyer

The advantages are obvious: they are discounts, if any, and the ability to pay with a smartphone, like in the good old days.

The disadvantages are not so conspicuous, although they are enough:

• Not cashback and bonuses. For banks, payment by QR code is not a purchase, but a transfer. Accordingly, there is no remuneration for this. However, if a discount is promised for the calculation in this way, which exceeds the cashback, the situation can be overcome.
• Paying with a QR code takes longer. Not that it takes hours, but attaching a card or smartphone is faster anyway. For inexpensive purchases with a card, you don’t even need to enter a PIN code. So it takes you seconds. Although when compared with the payment in cash, QR codes can win in speed.
• There is a possibility of credit card problems. Most often, banks make pleasant conditions on credit cards for purchases. And for transfers and cash withdrawals, large commissions and an increased percentage are introduced. Payment by QR code is not a purchase, with all the consequences. However, here it is better to clarify the information with the representatives of the bank.