The expert appreciated the planned expansion of the functions of a single QR code from the NSPK

The expansion of the functions of a single QR code from the National Payment Card System (NSPK) is a logical step in the development of the payment infrastructure, given the trend towards digitalization of payments, says Garik Kravtsov, CEO of Payselection. He told Izvestia about this on March 10.

Earlier that day, the NSPK told TASS that, in collaboration with banks and stores, a new project has been prepared that allows creating individual payment pages integrated into a universal QR code. The innovation is aimed at improving the customer experience. So, it is assumed that when scanning the code, users will be able to see not only payment data, but also information about accumulated points, bonuses and the amount of cashback.

"If, when scanning a universal QR code, users can actually not only pay for purchases, but also see information about accumulated points, bonuses and the amount of cashback, this will simplify the payment process and increase customer loyalty. Such functionality can become a useful tool for business," Kravtsov explained.

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At the same time, he noted that banks continue to view this instrument with some skepticism. Despite the additional features, the very essence of the problem remains unchanged — losses on acquiring.

"Government regulation forces banks to adapt, look for alternative sources of income and ways to minimize losses. Many are lobbying for an alternative to a single QR code, as they want to maintain control over payment flows. This is how the market finds itself at a crossroads. On the one hand, infrastructure is being developed, and new convenient tools for businesses and consumers are being offered. On the other hand, the issue of monetization remains open, and banks will try to find a balance between government initiatives and commercial interests," the expert concluded.

On February 7, it was reported that the Central Bank of the Russian Federation approved a new standard aimed at improving the security of operations with QR codes. The regulator noted that financial organizations and companies from other fields that use QR codes for payments and transfers will be able to develop internal protection measures based on this regulation.