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Belarus launches a new payment system using QR codes

VTB Bank has offered its customers a new billing system using the QR code technology, reports

QR payment service is an innovative technology that replaces the traditional forms of payment using cash and a credit card. The system of QR payments allows you to make purchases and pay for services using only your smartphone. In order to make a payment, you will only need to scan a QR code through the phone’s camera. A QR code is a picture containing information about the product and the company. Payment takes place automatically through the ERIP system.

VTB Bank became the first bank in Belarus to connect to the E-POS payment service. The new technology allows saving time, as well as saving money on servicing bank terminals. However, the bank charges a commission of 1.2% of the turnover.

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