In Russia, they are starting to introduce an analogue of Apple Pay and Google Pay for Mir cards, which will work by generating a QR code on the user’s smartphone. Already on October 25, this method will become available for integration to banks, Izvestia writes.
Unlike payment via SBP, where the customer scans a QR code at the store’s checkout using a phone, here, on the contrary, a store employee scans a QR code, which is generated in the customer’s mobile banking application. Payment in this way will be faster.
This payment method will be especially useful for owners of Apple smartphones – this will allow them to pay for purchases again without the help of “plastic”.
So far, it is known that Post Bank, MTS Bank, PSB, UBRD and Russian Standard Bank are planning to introduce this payment method. In order for the new technology to be widely adopted, both banks and shops will need to improve their information systems, and this will require time and financial resources.