Russia’s Sberbank has partnered with IT company Evotor, enabling customers to use their QR codes along with the dynamic QR codes already available.
This new function has been added to the bank’s ‘Pay with QR’ offering and can be accessed through Evotor’s point-of-sale (POS) terminals.
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For customers, this integration allows customers to buy goods without cash, cards and NFC technology.
During online checkouts, QR codes used to be automatically generated. Now customers can use their own QR code to make payments after generating it on the Sberbank Online mobile app.
This QR code can only be stored for a few seconds, to ensure security.
Merchants can scan this with a QR code scanner or a built-in camera inside an Evotor POS terminal to accept payments. This way, customers do not require payment approval through their bank’s mobile app.
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By GlobalDataCustomers can identify if the merchant accepts QR code payments by looking for the “Pay with QR by Sber” sticker on their doors or checkouts.
For merchants, the service charges a small business fee of 0.6-1.5%, which allows them to cut merchant acquiring and equipment acquiring costs.
It will help them boost revenue since customers do not need cash or cards to make purchases, the bank noted.
The Pay with QR service was integrated into Evotor POS terminals last month. Merchants have since then adopted this solution in 68 regions across Russia.
Sberbank director of acquiring and bank cards Dmitry Malykh said: “Recently, together with our partner Evotor, we have marketed a Smart-POS solution for small businesses and micro-enterprises, while now we are running a project for individuals, who can appreciate its convenience across more than 65,000 merchant locations throughout Russia.”
Evotor COO Yuri Yuryev said: “The first month of use of Pay with QR through Evotor has proven that the service is called for by businesses.
“To expand the use of the service, we are working on various user scenarios. Customers can now choose what’s more convenient for them, either to pay using the QR code the online checkout generates or get their own code.”
