You picked up groceries at the store, but at the checkout found that you forgot your wallet. You don't have a bank card or cash with you. But the phone is with you. The seller was not at a loss and offered to pay for the purchase using the QR code using the bank's mobile application. We will tell you how this technology works and why it is convenient.
Why use QR code payment?
Payment by QR code may be more convenient than payment by credit card or smartphone with contactless payment function.
QR payment:
You can also pay for purchases on the Internet using the QR code. If the online store has provided for such an opportunity, then the QR code will be displayed on the payment page, appear in your personal account on the store's website, or will be sent to your e-mail. After that, you will not need to enter the card details - just open the bank application and point the phone camera at the QR code. The application reads the code, you confirm the payment, and the money will be immediately transferred from your account to the account of the online store.
Will there be any commission for payment by QR code?
It all depends on which QR payment system the seller chose: FPS or another.
Neither banks nor shops will take any commission from the buyer for QR payments through the FPS - as well as when paying by card or cash. Moreover, some retailers offer discounts and bonuses if you pay for your purchase through this service.
You can distinguish a payment through the Fast Payment System by the FPS logo. This icon can be placed at checkouts in the sales area or on the payment page of an online store next to the logos of payment systems. If you see it, then the payment will be made through the FPS using the QR code and there will be no commissions for it.
When paying through their own QR services of individual banks, you will have to clarify the terms of the transaction before buying. Banks that develop their services can set commissions.
How does QR code payment work?
Merchants can use two types of code: a reusable "Static QR Code" or a one-time "Dynamic QR Code".
In a reusable code, only the merchant's details are usually encrypted, and you will have to enter the purchase amount in your banking application before paying. Merchants can pre-print and place a sticker with a reusable code near the cash register or show it to the customer on the screen of the payment terminal.
A one-time code is assigned to a specific purchase and includes both the seller's details and the amount. The cashier displays the code on the POS screen or prints it out on the receipt. You just have to consider it as the camera of your mobile phone. It is easier and faster than typing in the amount manually, which is why large stores usually choose one-time codes. Online stores, as a rule, find it more convenient to use a dynamic code - there is a different one for each purchase.
In both cases, you need to follow a few simple steps to pay:
How do I know which of my accounts will be debited?
You yourself choose from which account the money will be debited. You can pre-set an account for all payments through the FPS in the application settings of your bank. Or each time you decide from which account to pay for the purchase.
How long will the purchase take?
Few seconds. If the QR code does not contain information about the purchase amount, then it will have to be entered manually. But this is unlikely to take long.
What goods and services can be paid for using a QR code?
There are no restrictions. Using the code, you can pay for any goods and services if the seller offers such an option.
It is planned that in the future it will be possible to pay bills for housing and communal services, fines from the traffic police and taxes with the help of a QR code through the FPS.
How do I get my money back when I return an item?
The refund procedure is the same as when paying for purchases by credit card or cash. Within 14 days from the date of purchase, you need to contact the seller with an unused product, a receipt and a passport and write an application for a refund.
By law, the store is obliged to transfer money within up to two weeks. At the same time, payments that went through the FPS are returned instantly.
Why use QR code payment?
Payment by QR code may be more convenient than payment by credit card or smartphone with contactless payment function.
QR payment:
- Easier. You do not need a bank card to pay by QR code. The money goes from the buyer's account to the seller's account - and these accounts do not have to be linked to cards. All you need is a phone on which the bank's mobile application is installed. But it is necessary to clarify whether the store accepts payments by QR code from your bank.
You can also pay for purchases on the Internet using the QR code. If the online store has provided for such an opportunity, then the QR code will be displayed on the payment page, appear in your personal account on the store's website, or will be sent to your e-mail. After that, you will not need to enter the card details - just open the bank application and point the phone camera at the QR code. The application reads the code, you confirm the payment, and the money will be immediately transferred from your account to the account of the online store.
- More affordable. Any phone with a camera that supports banking applications can be used to pay by QR code. Whereas contactless payments via Apple Pay, Android Pay, Mir Pay and other systems require an NFC module to be built into the phone.
- Safer. Paying with a smartphone is safer than with a bank card, and even more so in cash. Even if you lose your phone or have it stolen, it won't be so easy to access your money. To do this, you will need to unlock your gadget, and then also pick up a password for your banking application.
Will there be any commission for payment by QR code?
It all depends on which QR payment system the seller chose: FPS or another.
Neither banks nor shops will take any commission from the buyer for QR payments through the FPS - as well as when paying by card or cash. Moreover, some retailers offer discounts and bonuses if you pay for your purchase through this service.
You can distinguish a payment through the Fast Payment System by the FPS logo. This icon can be placed at checkouts in the sales area or on the payment page of an online store next to the logos of payment systems. If you see it, then the payment will be made through the FPS using the QR code and there will be no commissions for it.
When paying through their own QR services of individual banks, you will have to clarify the terms of the transaction before buying. Banks that develop their services can set commissions.
How does QR code payment work?
Merchants can use two types of code: a reusable "Static QR Code" or a one-time "Dynamic QR Code".
In a reusable code, only the merchant's details are usually encrypted, and you will have to enter the purchase amount in your banking application before paying. Merchants can pre-print and place a sticker with a reusable code near the cash register or show it to the customer on the screen of the payment terminal.
A one-time code is assigned to a specific purchase and includes both the seller's details and the amount. The cashier displays the code on the POS screen or prints it out on the receipt. You just have to consider it as the camera of your mobile phone. It is easier and faster than typing in the amount manually, which is why large stores usually choose one-time codes. Online stores, as a rule, find it more convenient to use a dynamic code - there is a different one for each purchase.
In both cases, you need to follow a few simple steps to pay:
- Open your bank's application on your smartphone.
- Find the button “Payment by QR-code” in it (the name may differ in different mobile banks). If the bank makes QR payments through the FPS, the application will have the logo of this system. The camera viewfinder will open.
- Point the camera at the QR code. The name of the store or the name of a private seller and the amount to be paid will appear on the phone screen. Or the amount will have to be driven in on your own. Check if all data is correct.
- Click "Pay" or "Confirm" (banks may use different names for the buttons). The money will be debited from your account, the seller will receive a payment notification, and you will receive your purchases.
How do I know which of my accounts will be debited?
You yourself choose from which account the money will be debited. You can pre-set an account for all payments through the FPS in the application settings of your bank. Or each time you decide from which account to pay for the purchase.
How long will the purchase take?
Few seconds. If the QR code does not contain information about the purchase amount, then it will have to be entered manually. But this is unlikely to take long.
What goods and services can be paid for using a QR code?
There are no restrictions. Using the code, you can pay for any goods and services if the seller offers such an option.
It is planned that in the future it will be possible to pay bills for housing and communal services, fines from the traffic police and taxes with the help of a QR code through the FPS.
How do I get my money back when I return an item?
The refund procedure is the same as when paying for purchases by credit card or cash. Within 14 days from the date of purchase, you need to contact the seller with an unused product, a receipt and a passport and write an application for a refund.
By law, the store is obliged to transfer money within up to two weeks. At the same time, payments that went through the FPS are returned instantly.
