QR codes of PrivatBank

On October 4, 2012 PrivatBank provided to bank community technology of contactless payments, having christened it "the murderer of NFC". As reported in bank, the new technology is based on use of QR codes and its implementation does not demand the capital investments as from banks, and clients and trade enterprises.

The vice chairman of the board of PrivatBank Alexander Vityaz said that implementation of contactless payments based on the NFC standard demands from banks and retail of multimillion investments and "superefforts" in certification of software and replacement of the equipment. "Therefore we are skeptical about perspectives of its development", - he said.

Use of QR codes by PrivatBank

As for a QR product of PrivatBank," the new contactless technology based on the optical interface - the smartphone camera - qr-codes, will allow trade and banks not only to instantly start contactless payments on the existing retail store equipment, but also to reduce costs and risks for payment acceptance, and to clients - to turn payment process of purchases for pleasure", - he considers.

The bank notes that the technology of QR payments not only completely solves problems of contactless payment in the physical world, but also it is used for identification and payment in e-commerce.

Input in Privat24 online bank using QR technologies"

"We already "obeskontaktit" the most part of our infrastructure" - Alexander Vityaz told. On September 25, 2012 the contactless input by QR codes is started in 8074 ATMs of PrivatBank in Ukraine, Privat24 and liqpay, in the course of connection ATM network in Russia, Georgia, Latvia, Cyprus, Italy and Portugal.