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The NBU has developed uniform rules for QR codes to transfer

The national Bank has developed a common approach to the formation and use of a QR code for the cashless transfer of funds from account to account (hereinafter – credit transfers). Today the participants of the payment market of Ukraine are already using QR codes to transfer funds, including payment for goods and services.

At the same time, there is no single approach to the formation of QR codes, so market participants form their own rules. For it is no compatibility, when the QR-code generated by one party, it would be processed in the infrastructure to another party.

This creates inconvenience for the suppliers of goods and services and their customers. In this regard, and in response to the wishes of the members of the Ukrainian payment market, the national Bank decided to implement a common approach to the use of QR code for transfer of funds, in particular credit transfers.

The relevant provisions are contained in the draft resolution of the NBU "On approval of Rules of forming and use a QR code for the implementation of credit transfers", available for public comment.

The document sets out the requirements for the formation of data elements of a QR code, in particular to:

  • structure fields names and functions of the elements;
  • the lengths of these elements, including their commitment and provisioning, depending on the purpose of the element.
  • the characteristics of the symbols QR code;
  • way to encode data symbols;
  • the character formats;
  • characteristics of the size of the QR code;
  • the rules of error correction;
  • algorithms of decoding references;
  • other parameters defined by the international standard ISO/IEC 18004:2015.

Similar approaches to the formation and use of QR code for implementation of credit transfers imposed by many countries of the European Union (in particular, Austria, Germany, Belgium, Finland and the Netherlands). In General, the QR code can be used for payment of goods and services (in particular for billing for the payment of public, administrative and communal services), as well as for the transfer of funds from account to account. However, the formation and use of the QR code will not be mandatory. However, in the case of using a QR code for the implementation of credit transfers, the participants of non-cash payments should ensure its development and use in accordance with the Project. Common approaches to formation and use a QR code for the implementation of credit transfers will contribute to:

  • increase in convenience and speed calculations;
  • a significant reduction of operational risks connected with erroneous filling in the payment details;
  • automation of business processes of participants in cashless payments;
  • as a result – growth of volume of cashless payments.

The analysis of regulatory impact of this Project. Comments and suggestions to the Project are accepted till 06 may 2020 postal and electronic address of the National Bank of Ukraine. Postal address: 01601, Kyiv, vul. Institute, 9 national Bank of Ukraine, payment systems Department and innovative development. Address: 22SPRA@U1H0, nbu@bank.gov.ua.