Sberbank rolls out Pay-QR for mobile contactless payments

Source: Sberbank

Sberbank has launched a project in 42 Russian cities involving Pay-QR, a new smartphone app for instant contactless payments.

The project’s goals are to provide a convenient new QR code payment technology for individuals and a cheap tool for small businesses to accept payments.

Deputy Chairman of the Executive Board and Head of the Retail Business Block of Sberbank Svetlana Kirsanova:

“Many owners of bank cards have gladly switched to contactless payment using their smartphones’ NFC technology. This has fully replaced a wallet for them. We aim to not only meet the interests of our most progressive clients, but also help small businesses to do this by providing the newest secure and efficient solutions such as Pay-QR.”

QR codes provide information instantly and eliminate the possibility of making mistakes when inputting data. It is enough to open the app and scan the vendor’s individual QR code from a special sticker (it should be located in a visible place). Payment is made using a bank card that is connected to the app. It is possible to add several cards of any bank.

The app use will make shopping easier for owners of bank cards and allow small and individual enterprises which don’t use merchant acquiring to increase client flow without making additional expenses on the equipment installation.

The service meets all standards of security: data is stored on a secure server, and not the user’s smartphone. Users are identified by their fingerprints, facial biometrics or a code. Even if the smartphone is lost, its owner can be sure that no one will be able to get information about their bank cards.
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