Russian Standard Bank provided iiko customers with the reception of contactless payments by cash link through the SBP

2022: Provision of contactless payments by cash link through the SBP

On August 23, 2022, Bank Russian Standard announced that it had provided acquiring customers with the technical ability to accept payments by cash payment link using the Fast Payment System (FPS). It is already available to customers of the iiko restaurant automation company. The appeared type of contactless payment through the SBP will combine the capabilities of both static and dynamic QR codes.

The technology of such payment is simple and allows trade and service enterprises to save on the purchase of additional client screens in cash areas. Any iiko client institution just needs to print a QR code with a link once, which will then be formed at the checkout each time for a specific purchase with accurate information on the amount of payment. Stickers with such a code and NFC label can be located in the cash area of ​ ​ a small outlet, on tables in a cafe or restaurant. Also, the QR code can simply be printed and brought along with the account to the guest of the institution.

For a visitor who has an SBPei installed on his smartphone, it is enough to attach a phone (Android or iOS) to a QR code with an NFC tag to pay for the order. After that, the customer will be automatically sent to the SBP to confirm the payment. You can also pay by simply scanning the code through the SBPei or through your mobile bank and confirming the operation in it. The technical possibility of making such payments is provided by the Bank Russian Standard.

The payment service through the SBP is interesting for companies due to its favorable charging, since the commission for operations through the SBP is noticeably lower than for accepting classic card payments. As you know, reducing costs makes the final offer of companies more profitable for customers. At the same time, the money goes to the company's account almost immediately after confirmation of payment, which allows trade and service enterprises to reduce cash gaps and the amount of necessary working capital. When paying with a card, this process can take from one to several days.

As of August 2022, more than 42 thousand catering companies are working with the iiko restaurant automation system. Now, thanks to the development of the Bank of Russian Standard, customers-legal entities iiko will be able to connect a service for contactless reception of payments using the cash link through the SBP.