back Back

Sberbank and Evotor launch payment with customer QR code

By Megha Bhattacharya

August 28, 2020

  • Evotor
  • Russia
  • Sberbank
Share

Sberbank, today, announced the addition of a new function to the Pay with QR service when accessed through Evotor POS terminals, by letting customers use their QR codes in addition to dynamic QR codes already available. The companies have expanded the functionality of the Pay with QR solution, thus making it convenient for businesses and customers.

Dmitry Malykh, Acquiring, and Bank Cards Director, Sberbank, said, “We’re putting much effort into developing QR payments because they are secure, convenient, and save our customers’ time. Recently, together with our partner Evotor, we have marketed a Smart-POS solution for small businesses and micro-enterprises, while now we are running a project for individuals, who can appreciate its convenience across more than 65,000 merchant locations throughout Russia.”

Sberbank explained that before making a purchase, users of the Sberbank Online mobile app generate a QR code inside the app, a merchant scans it with a QR code scanner or with a built-in camera inside an Evotor POS terminal. The app generates a new QR code every time and is stored only for a few seconds.

The QR codes allow customers to purchase products without the requirement for cash or bank cards. It also lets merchants cut merchant acquiring costs, with fees for small businesses and micro-enterprises ranging from 0.6% to 1.5% depending on the industry and improve revenue.

Yuri Yuryev, COO, IT company Evotor, said, “The first month of use of Pay with QR through Evotor has proven that the service is called for by businesses. QR technology lets you cut merchant acquiring and equipment costs when accepting cashless payments. To expand the use of the service, we are working on various user scenarios. Customers can now choose what’s more convenient for them, either to pay using the QR code the online checkout generates or get their own code.”

Previous Article

August 28, 2020

CPA Australia reveals increase in FinTech usage among Malaysian businesses

Read More
Next Article

August 28, 2020

Bill.com & KeyBank unveils Key CashFlow, a streamlined payments solution

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Evotor

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 23, 2024

Octopus Energy to offer BNPL payments with Zopa Bank

Read More

May 23, 2024

4 Wearable PayTech firms enabling cashless payments in Europe

Read More

May 23, 2024

Vitesse secures $93m in Series C Funding to fuel US expansion

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023