20:23, 20 May 2020
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Russians can get individual QR code to pay through FPS
An individual QR code for payments in the Faster Payment System (FPS) can be implemented in Russia. It will be generated on the shopper's smartphone at the time of payment and scanned by the seller. The Central Bank and banks do not rule out the possibility of such a scenario.
The client account details and permission to debit the account will be incorporated into the code. All information about the purchase (amount, payee’s account) will be stored by the seller. This scenario provides for a simple customer journey: to make a payment, the shopper shows the QR code on his smartphone to the cashier, who scans it and “pull up” the respective amount of cash. This is similar to Apple Pay or Google Pay payments, but a QR code is shown to the cashier instead of holding a smartphone close to the terminal.
Even if the code comes into the fraudster’s hands, it will become invalid in half a minute.