Russians were offered to pay for purchases abroad by means of QR code

A payment solution has been developed in Russia which makes it possible to pay for purchases abroad by QR code. This was reported in the press service of VTB (the corresponding function will be available in the bank's application).

As it was emphasized in the bank, the new functionality will save clients from the necessity to withdraw cash when traveling abroad or to issue a card of foreign banks.

According to the bank, payments are made without commission in rubles with subsequent conversion into the national currency of the country where the purchase was made. The limit of one transaction is from 10 rubles to 350 thousand rubles.

"At the first stage, our service is available only to VTB customers, but in the first half of the year we will be ready to provide this technology within the framework of partnerships with international banks and fintech companies in friendly countries," said Alexei Khranilov, head of the Transfers division of VTB's Transactional Retail Business Department.

The technology and service have already been successfully tested in one of the neighboring countries and will be scaled up in the first half of the year. In the second half of the year, the functionality will be available in other friendly neighboring and non-CIS countries.