In March 2022, there is a surge in payments using QR codes and the Faster Payments System (FPS) in Russia. This was reported by the publication “Izvestia”.
According to VTB statistics, the number of payments through the FPS from individuals to legal entities has doubled. At the same time, earlier the number of such transactions grew by an average of 10-15%. Post Bank reported an increase in payments through the SBP in March compared to February by 1.4 times.
As Anastasia Maslennikova, senior vice president at Post Bank, emphasized, a similar surge is observed after the disconnection of Visa and MasterCard cards from contactless payment services – Apple Pay and Google Pay. Many sellers and stores quickly got their bearings in the situation and began to actively switch to paying by QR code through the SBP.
The NSPK (National System of Payment Cards) explained that in Russia more than 80 banks now provide the opportunity to pay using the SBP. The most common option is for the customer to scan a QR code at the store’s checkout, which is paid through the bank’s mobile application.
Source: ixbt
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