Starting September 1, Russians will be able to use a single QR code for cashless payments in stores and cafes. This will be convenient for payers and will reduce costs for businesses, said Alexander Demin, head of the State Duma Committee on Small and Medium-sized Enterprises.
Currently, there can be QR codes from several banks at the checkout, so customers have to look for their own. However, by September, there will be no such confusion, the parliamentarian explained.
Demin emphasized that businesses will primarily benefit from the innovation. This will stimulate competition among banks for acquiring (a service that allows accepting cashless payments from customers).
The entrepreneur is no longer tied to one provider.
The deputy called the transition to a single QR code "the right step" and supported this initiative.
The QR code is being developed by the National Payment Card System (NSPK) and the Central Bank of Russia. Businesses will not have to change cash register equipment and terminals, but only update their software. However, according to Federal Law No. 54-FZ, a receipt must be issued when paying by QR code.
