The first members have joined the consortium of banks that will develop a unified QR code. Sberbank, Alfa-Bank, and T-Bank have signed a memorandum on the creation of a consortium to develop a unified QR code, which will be the first step in the development of new high-tech payment instruments.
The consortium anticipates the participation of up to 12 founding investors, with Sberbank retaining a 45% stake, which will be slightly less than a controlling stake, and decisions will be made by a majority of 75% of the votes.
Sberbank will transfer its MultiQR service to the consortium, which already includes 20 credit organizations, covering more than 88% of the market. The initiative aims to create an alternative to the Faster Payments System (FPS), which has significantly expanded its network and reduced commissions over the past year.
Nevertheless, the development of the project may be hindered by the Bank of Russia, which, together with the National Payment Card System (NSPK), is already promoting its universal QR code. Experts do not see significant differences between the two systems but emphasize the importance of coordinating the consortium's actions with the Central Bank to avoid confrontation and ensure stable income for participants.
Read materials on the topic:
Under one QR code: a consortium of Russian banks is working on an alternative to the FPS solution
Digital ruble, fast payment: NSPK completes work on a universal QR code for the FPS