The Central Bank plans to introduce a security standard for payments by QR code in the near future

The Bank of Russia is developing a standard that will ensure the security of funds when paying using QR codes. According to the deputy chairman of the regulator, German Zubarev, they plan to accept it in the near future.

“The Bank of Russia is working on a standard to ensure the security of payments using QR codes. Threat modeling was carried out and measures to counter these threats were developed. We expect to adopt this standard in the near future,” said Mr. Zubarev at the Finopolis-2023 forum (quoted from RIA Novosti).

Earlier during the forum, VTB Deputy Chairman Georgy Gorshkov made a proposal to create a single payment QR code in Russia, which will allow customers to pay contactlessly for goods and services without worrying about what to use: a card, code, face or another payment method. First Deputy Chairman of the Bank of Russia Olga Skorobogatova noted that the regulator is ready to work on this issue and will discuss it with members of the Fintech association.

Milena Kostereva