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VTB and Russian Railways team on QR code payments

Source: VTB

VTB Bank and Russian Railways have implemented the ability to pay for terminal and warehouse services provided through the Bank of Russia's fast payment system using a dynamic QR code.

The new technology allows Russian Railways customers to pay for their orders using new contactless payment technology, without using a bank card.

Now customers of the transport company will only need to choose a payment method via the fast payment system, scan the dynamic QR code that appears on the terminal display using their smartphone camera, and confirm the payment in their bank's mobile app. Customers do not need to enter data on the amount or payment details, as the QR code already contains all the necessary information.

“The new solution for payment for terminal and warehouse services via the Bank of Russia's fast payment system gives customers of Russian Railways services the ability to choose the most convenient and secure payment method for them. The company, in turn, gets the opportunity to reduce operating and commission costs for accepting non-cash payments.” said Victoria Vanurina, Adviser to the First Deputy President-Chairman of the Management Board, Senior Vice President of VTB Bank.

Dmitry Ananashin, Deputy Head of the Economics Management of the Oktyabrskaya Directorate for Terminal and Warehouse Complex Management and Finance of Russian Railways, emphasised: "When developing new services for our clients, we try to implement as many modern payment methods as possible that meet the requirements for payment security. Today we are pleased to announce the launch of a new pilot project to introduce the ability to pay through the Bank of Russia's fast payment system." 

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