X5 Retail Group, Rosbank and the National Payment Card System registered payment through the System of fast payments

2019: Carrying out payment through the System of Fast Payments

On December 11, 2019 the X5 Retail Group company reported that together with PJSC ROSBANK and the National Payment Card System (NPCS) registered successful payment through the System of Fast Payments (SFP) by the dynamic QR code. X5 became the first product retailer who carried out payment using this technology.

The technical capability of s2b-transaction – payment of purchase using the System of fast payments by the QR code – was provided by Rosbank. Operations were performed at the checkout of self-service developed in X5 and located in innovation laboratory. For commission of payment through SBP it is enough to scan the dynamic QR code through mobile application ROSBANK Online or other SBP participating bank which implemented this functionality and to confirm transaction. Money will arrive from the account of the buyer for the account of legal entity within several seconds from the moment of confirmation of the transfer in mobile bank. The dynamic QR code — the code in which the amount of purchase "is sewn already up" that allows outlet to control a transaction amount, and to the buyer – only to confirm a payment amount.

One of the main objectives of X5 – to make purchases in our shops fast and convenient, having reduced their cost for the Company. With the advent of service of a System of fast payments clients will have an instrument of calculations with a number of advantages: instant payment, user-friendly interface and lack of need of use of the bank card. We are sure that this service will be popular by our buyers, and the Company will manage to reduce costs on bank service of cashless payments in X5, commented Svetlana Demyashkevich, the chief financial executive of X5 of Retail Group

Most of all in Rosbank we appreciate comfort of our clients, both corporate, and individuals, and we are glad that thanks to cooperation with X5 and NSCP they have an opportunity to use this payment service of purchases. Besides, similar projects seriously change a landscape of the Russian banking market, and we are sure that in the next several years payment by QR codes using the System of fast payments firmly will be included into everyday life of Russians and will become as usual as payment by the bank card, noted Perizat Shaykhina, the first deputy chairman of the board of Rosbank

Developing different scenarios of s2b-payments, we provide to users of SBP a convenient method of cashless payment of purchases, and our partner TSP – one more interesting solution for business. Are sure that over time payment through SBP will gain popularity in different segments, and banks and retail will continue to develop this service for the clients, doing this payment method not only convenient, but also profitable, commented the deputy CEO of NSCP (operational payment and the SBP clearing center) Sergey Bochkaryov

Based on the unrolled testing of this technology planned in 2020, and the analysis of completions of IT architecture of shop the decision on terms and scales of deployment of SBP in retail chain stores of X5 will be made.