By summer 2025, the universal QR code will work and will be placed at every cash register

The Central Bank, the government and the majority of market participants now have a unified position that a universal QR code should be introduced, Anatoly Aksakov, head of the State Duma Committee on Financial Markets, told Izvestia in an interview. He added: several major players have another opinion - that in addition to the centralized QR code, which is being prepared by the National Payment Card System (NPCS), should be allowed to place other ones. However, the prevailing position is that the universal QR will allow to simplify the interaction between the buyer and the seller of goods and services.

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How the new technology will work and whether it will be more convenient than post-it notes

The idea of the universal QR code appeared in order to facilitate the client's way and to reduce the expenses of buyers, the deputy has explained. The NSPC will set very low rates for payment of purchases by the centralized QR, that's why people will spend less money for this service. Although competition is also important, Anatoly Aksakov noted.

"I think that in the first quarter of next year we will adopt a law on universal QR. We want to spell it out and expect that it will also be used for payment with digital ruble. That's why by the summer of 2025 the universal QR code will definitely work and will be placed at every cash register", - Anatoly Aksakov concluded.

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