An analogue of Apple Pay and Google Pay will be introduced in Russia for “Svit” cards

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Russia will start implementing an analogue of Apple Pay and Google Pay for Svit cards from October 25. With this service, users can generate a QR code to pay for purchases in stores. It is assumed that the program will be available for owners of Apple smartphones.

Thanks to this development, owners of “Mir” bank cards will be able to pay for purchases without presenting them. It works like this: users generate a QR code on their smartphone, and then present it at the cash register to be read by a special scanner.

A similar function was implemented in the SBP application, although users themselves had to scan QR codes in stores and then confirm the transaction in the banking application. According to Mykhailo Bakhirkin, head of the credit organization’s e-business service, the new method allows making payments many times faster, which is very important for retail chains, where people need to be served quickly enough.

It is noted that this function will allow customers to retain the opportunity to receive cashback within the loyalty programs of the payment system and the bank. As for Apple smartphones, their owners in Russia do not have the opportunity to use NFC technology for payments, and the new development will be very appropriate.

The technical release of the new payment method is scheduled for October 25. Customers will get access to it gradually, with the implementation of the technology in each bank. Post Bank plans to introduce this method soon, and clients of MTS Bank and PSB will be among the first to generate such QR codes.

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