The Bank of Russia has put forward a proposal to the Russian Ministry of Finance to amend legislation concerning the use of QR codes in payments for goods and services. The central aspect of this proposal is that banks will be required to adopt a universal QR code, developed by the National Payment Card System (NPCS).
This universal NPCS QR code is designed to facilitate various types of payments, including bank payment solutions, the SBP, and potentially the digital ruble in the future. Additionally, it will support banks' cashback and loyalty programs. The implementation aims to reduce costs for banks and trade companies by eliminating the need for multiple payment instruments.
The proposed change is expected to enhance competition within the sector and establish equal conditions for all banks, regardless of size, when connecting to and interacting with the NPCS infrastructure.
According to the document detailing these proposals, all IT systems used by banks as well as payment acceptance devices like point-of-sale terminals should be compatible with payments made using this universal NPCS QR code.