On 13/12/2024, the founder of L&P made a comment on the BUSINESS FM radio station about VTB‘s payment solution, which allows customers of a credit institution to pay for goods and services abroad using a QR code in VTB Online.
“The possibility of using VISA and Mastercard payment cards abroad for customers of Russian banks is practically excluded today, so we are talking specifically about cards of the Russian national payment card system — MIR cards. These are probably the countries where the cards of the Russian national payment system are supported, and it is not surprising that today the list of countries is not disclosed, this is obviously done in the interests of security, in order not to compromise the new decision in front of the financial authorities of unfriendly states that have imposed sanctions on Russia. One of the reasons limiting payments with a QR code today is not the accrual of cashback for payments using a QR code, people continue to prefer cards in order to receive bonuses. If for some reason it will not be possible to use cards outside of Russia, but payment with a QR code will be available, then it will certainly gain popularity involuntarily. It is possible that other banks will follow the path of VTB, since many large Russian banks are consistently working to provide their customers with the opportunity to pay for goods and services outside Russia,“ says Alexander Linnikov.
