Transactions WITHOUT COMMISSION coming soon: One will only need a mobile phone on the cash register

Citizens will soon be able to pay for goods and services using only a mobile phone and an IPS OQ code on the mobile banking application. There is no commission for this transaction and the system is currently being tested in a limited number of places, as so-called pilot production is underway, the „Vecernje novosti“ daily newspaper reports. Even now in one retail chain products can be purchased this way, the newspaper reports. In March, one will be able to settle debts towards Belgrade’s „Infostan“ for February using an IPS QR code. The application will soon be offered to all users and the system is expected to expand. In order to realize this type of transaction, merchants and enterprises should enable this service in agreement with their bank. Serbia is the first in Europe to introduce this method of instant payment at points of sale, the newspaper writes. The National Bank of Serbia is working on realization of this project. „The buyer will be able to make the payment quickly and with ease, and they will not have to have money or a payment card,“ officials of the National Bank explain for the „Novosti“ daily, adding that all that is needed is a mobile phone and a mobile application of the bank where they have an open account. They also point out that the advantage of IPS QR codes is that they can be printed on bills.

Izvor: Večernje novosti

Foto: Pixabay