13:38, 17 June 2022 Page views 767 views

New payment method with Mir cards will appear in Russia

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From October 25, Mir cardholders will be able to pay for purchases without presenting plastic media. The payment will be made using a smartphone, where a QR code will be generated and read by the merchant at the checkout with the respective amount to be debited. This is stated in the bulletin of the payment system.

“This autumn, the Mir payment system plans to empower banks with the technical capability of implementing on their side a payment service using QR codes generated in cardholders' mobile devices. As the technology is implemented in the bank environment, credit institutions will be able to start providing this service to their customers.

In this case, the QR code operates as another form factor of the card and allows payments for goods and services without presenting a bank card, using a smartphone alone. The Mir cardholder generates a QR code on his mobile device and presents it for scanning in a retail outlet,” NSPK gave a comment to the portal PLUSworld.ru.

The new option of payment via a smartphone may become convenient after Russian users have been cut-off from Apple Pay and Google Pay.

Russians already can make QR-payments in the Faster Payment System. Sberbank also launched the QR code payment technology in its SberPay service: to use this, the shopper needs to generate the code in the Sberbank Online application and show it to the cashier for scanning.