Tinkoff: The electronic cash voucher to the buyer if you pay with the card

2020: The announcement of the electronic cash voucher to the buyer if you pay with the card

On June 18, 2020 the Tinkoff company reported that it developed technology which allows different players of the market to pass to electronic checks and to refuse completely paper.

According to the company, the technology represents a superstructure standard to the international standard ISO 8583 – it allows OFD, offline or to online store, cafe and other sales point within a minute to send to the buyer if it pays off with the card, the electronic cash voucher for e-mail or in the application of bank.

For June, 2020 Tinkoff technology open. In future Tinkoff is going to suggest International Organization for Standardization (ISO) to add the international standards with this superstructure.

Scheme 1 - The solution 2 in 1 - the terminal + cash desk

Use of the Tinkoff standard provides sending the electronic check if the buyer pays off with the card. Printing costs the large retailer approximately 0.1% of each transaction – the amount of the average check. Failure from paper will allow players of the market to save on printing several million rubles a year, on condition of mass use by other players of the market of these additions to the standard. Besides, it will help to reduce costs for utilization of those checks which are not taken away by buyers.

The standard calculates unique number (HASH) by a special formula and adds it to the electronic cash voucher created from fields of the protocol of acquiring of the international standard ISO 8583. It ensures correctness and safety of information exchange and provides security of the buyer and seller - malefactors will not be able to crack transaction.

Scheme 2 - Formation of HASH out of cash desk

To begin to use this standard, the outlet needs to make completion at the checkout which will help to calculate HASH value and to place it in the check. For this purpose the online cash desk should support format 2 in 1: carrying out bank transaction and formation of the cash voucher. If the cash desk does not support such format, the cash provider should have any other method to obtain HASH or data from the protocol of acquiring of ISO 8583. Calculation of HASH for cash desk can carry out merchant acquirer, PSP (payment service provider - the supplier of service of payment) or shop. For June, 2020 most cash desks support this solution.

The different companies, for example, delivery service of food Level Kitchen and shops using cash desks of Multisoft company were already connected to the standard. For June, 2020 the buyer will be able to receive the electronic check, only if the standard is supported by its bank.