How can businesses use QR codes to accept cashless payments for goods and services?

First of all, let's start with the advantages of this method.

By using a QR code, businesses can accept payments to their own accounts at a lower cost compared to payment cards.

Also, this method does not require:

♦ installation of a payment terminal;

♦ entering into additional agreements with banks (or other payment service providers).

At the same time, payers can be sure that their payment initiated with a QR code will reach the right place.

After all, the details do not need to be entered manually, which reduces the likelihood of error. The payment details will be automatically filled in from the QR code scanned by the payment application's scanner.

Currently, more than 75% of citizens who have current accounts can scan a QR code generated in accordance with the NBU rules from their banks' mobile payment applications. And their number is constantly growing.

In addition, hyperlinks, or Deeplinks, can be used to exchange details.

They are also generated in accordance with the uniform rules for using QR codes previously developed by the NBU and contain the same set of payment data as the QR code.

How to generate a QR code?

You can generate a QR code to pay for goods and services:

♦ independently through the QR code generation service;
♦ through the QR code generator of your bank or other payment service provider (if they have this option).

In particular, the NBU has developed the instruction "How to generate a QR code for a business entity?", which is available on the NBU website.

For more information on the specifics of using a QR code and its benefits for business, as well as a detailed list of banks that support payment via QR code, formed in accordance with the NBU rules, please follow the link.