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10 Февраля 2020

BPC Processing has been certified as TPP in C2B transactions within FPS

BPC Processing has successfully completed certification for C2B transfers as a third party processor (TPP) within the Faster Payments System.

C2B instant payments is a platform that enables payments via QR -code – the solution significantly reduces merchant’s costs on equipment and transactions fees. There are two types of QR-codes.

Dynamic: A merchant presents the QR to the consumer (e.g. by displaying it on a screen).To make a payment the consumer opens the payment app on his smartphone and scans the code.

Static: When a merchant uses static QR-code, no special equipment is needed. The consumer scans the merchant’s code (which could be placed as a sticker) with his smartphone app and enters the payment amount to complete transaction.

According to CB of Russia, the amount of QR-based payments is quite low; this is a pilot project, though it is very promising. The solution might help covering segments of a large target audience – those who have no NFC chip in their smartphones. Moreover, a vast majority of shops and cafes to be connected this month.

The Faster Payments System (FPS), launched on 28 January 2019, is set to enable individuals to make instant transfers to each other 24/7 using only a mobile phone number – regardless of in which banks the sender and recipient have their accounts. In October 2019 QR code-based c2b transfers in FPS was launched.

BPC Processing, part of BPC Group, is a processing company based in Moscow. The company enables access to advanced solutions and services (Smart-Vista based), in order to develop successful cards and payments business.

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