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OZON tested the quick payment system for purchases in online stores

OZON tested the quick payment system for purchases in online stores

In Russia the first payment using the quick payment system (QPS) was made, between the online retailer Ozon and Ak Bars Bank. The launch of this function will be the next step in the development of the system after the successful implementation of bank transfer services by phone number between physical person and payments in stores and cafes using QR codes. Buying goods in online stores through QPS is an option that is beneficial for both buyers and sellers.

Buyers get a convenient way to shop, and sellers can avoid high acquiring fees. To make a purchase using the new technology, you need to select the payment method “via QPS” in the mobile application of the store (similar to Apple Pay and Google Pay). The Bank of Russia expects a massive development of payments to legal entities through QPS in the first quarter of 2020. According to experts, the system will be fully deployed this year after connecting Sberbank to QPS.