In 2023, Russian banks will pay their clients 500 billion rubles in repayments. These estimates were made by Sergey Khromov, Vice President and Deputy Head of the Payment Systems Department of T-Bank, at the PLUS Forum “Payment Business and Money Circulation”.
– This is a very large amount. And all thanks to the economy that has developed with cards and payment services. Unfortunately, in the SBP economy, banks cannot afford this, so loyalty depends on the immediate economy,” Sergei Khromov noted at the session “Retail banking and the payment industry 2024. The most important trends in the conditions of corporate sovereignty”, where he also discussed the topic of the single payment QR code.
The fact is that banks receive 4.5 times more revenue from their own payment services than from paying their customers through the SBP. Banks return this profit to customers in the form of cashback.
One of the drivers of the development of payment services in emerging markets is QR code technology, which is currently being actively developed in the Russian Federation. Two QR codes are sold on the Russian market at once: from the NSPK and from a consortium of banks.
At the forum, Sergei Khromov revealed the details of the creation of a consortium of banks to develop a single QR code: uniform standards, equal access and public tariffs. Its main task is to ensure a level playing field, competition in the payment market and the development of payment technologies.
At the same time, in a single QR code of the banking consortium, the main methods for most customers will be the payment services of the three largest banks – Sberbank, Alfa-Bank and T-Bank. , after payment the customer will receive a refund as when paying by card. In addition, customers will also have access to SBP and the digital ruble. A unified payment standard should increase customer confidence in paying via QR, says Sergei Khromov
According to experts’ forecasts, which were cited by the T-Bank vice president in his speech, the share of non-card payment methods in Russia will reach 35% in 2026, and by the end of this year it will be 20%.
The share of global payments with offline payment services is also expected to increase significantly by 1.5 times by 2027. Nearly half of the world’s offline payments by 2027 will come from bank payment services. Online, the share of payment services in global transaction turnover will exceed 60% by 2027.
