The first instant payment by mobile phone using an IPS QR code was made yesterday in Serbia.
The first such transaction was made by the Governor of the National Bank of Serbia (NBS) Jorgovanka Tabaković, in a supermarket Mercator S.
“27 February will be remembered as the day when people in Serbia could start using their mobile phones to pay for their shopping,” Tabakovic said and added that that type of payment would be made possible first at Mercator S shops and Poštanska Štedionica”, but she expects that other retail chains and banks would soon join the project.
“Today we are doing what is for many a distant future,” Tabakovic said, adding that the new payment method would make life and payment easier, more efficient and safer for people in Serbia.
Only Sweden and China have this type of payment, Tabakovic said. She went on to say that any bank in Serbia that provides an e-banking service can join the option of paying by mobile phone via a QR code, which is owned by NBS.
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As early as 2018, the NBS spoke of the possibility of instant payments in Serbia, so money transfers can be made within 24 hours, seven days a week, 365 days a year, in a second or two. In Serbia, at least 15 million bills are issued every month for electricity, telephone and other utility services that people have to pay on a regular basis.
Paying by phone or scanning the QR code is the way to avoid standing in line in shops, says Vladimir Vasic, secretary-general of the Association of Banks of Serbia (UBS).
In terms of the security of this type of payment, Vasic says that rules have been established on exactly what the key code should contain and that the whole system is based on experience and practices of national and international laws, “because, as an EU candidate, most of Serbia’s laws and protection systems are based on the existing EU standards.”
Users in Serbia can download the application via Google Play Store that allows this type of payment.
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