The Russian fintech market is experiencing a wave of transformations, and one of the most discussed innovations is the Universal QR code. In October 2023, the National Payment Card System (NSPK) completed its implementation as part of the Fast Payment System (FPS), which became a landmark event for the entire financial ecosystem of the country.

This step not only simplified the process of cashless payments, but also significantly improved the user experience. The Universal QR code allows payments to be made using one single code, which eliminates the need for many different formats and platforms. This innovation opens up new horizons for businesses and consumers, making financial transactions more accessible and convenient.

Let’s take a closer look at how the NSPK Universal QR code is changing the rules of the game in the field of financial technologies in Russia and what prospects it opens up for the future of cashless payments.

Why do we need a Universal QR code?

Existing PAY services in Russia are actively developing their own solutions in the field of QR codes. At first glance, this may seem convenient, as users can easily pay for purchases using their favorite apps. However, the reality is that a large number of different QR codes for payment creates confusion for customers. Often, users have to “switch” between bank applications or even go to websites, which significantly complicates the payment process.

To solve this problem, NSPK has developed a Universal QR code for payment – a single solution that combines all popular PAY services and simplifies the payment process for users. This solution is aimed at creating a user-friendly interface that avoids confusion and increases the level of comfort when making payments.

How does the Universal QR code work?

The main principle of the Universal QR code is that after scanning it, the user is taken to a universal page. On this page, the client can choose one of the many available payment methods, including various payment services, the Digital Ruble and payment through the Fast Payment System (FPS). Thus, the Universal QR Code combines multiple payment methods in one interface, making the process simpler and more convenient for all users.

Opportunities for users and banks

The introduction of the Universal QR Code provides customers with many benefits. Firstly, customers can independently choose loyalty programs and receive cashback from banks or the Fast Payment System. This creates additional incentives for using cashless payments and makes the shopping process more profitable.

Financial institutions can also benefit from using the Universal QR Code. One of the priorities of the NSPK when developing this solution was to ensure equal conditions for all banks. This approach contributes to the creation of a healthy competitive environment in the financial services market.

Prospects for the development of the Universal QR Code

In 2025, the Universal QR Code continues to actively develop, becoming an integral part of the Russian financial ecosystem. One of the key areas of its evolution is integration with the Digital Ruble, which opens up new horizons for cashless payments and digitalization of the economy.

According to the new requirements, from 2025, companies with annual revenues of over 30 million rubles are required to set up payment acceptance in digital rubles. This means that the Universal QR Code will support not only traditional payment methods, but also the ability to make payments using the Digital Ruble. This integration will allow users to easily and conveniently make transactions using the new currency format, which provides instant transfers and increased security.

Benefits for businesses and consumers

Support for the Digital Ruble via the Universal QR Code provides many benefits for both businesses and consumers.

Simplified payments: Consumers will be able to quickly and securely pay for goods and services using the Digital Ruble, which reduces waiting times at the checkout and improves the overall customer experience.
Reduced costs: For businesses, using the Digital Ruble can reduce payment processing fees, making cashless payments more profitable.
Increased transparency: The blockchain technology underlying the Digital Ruble provides a high level of transparency and security for transactions, which is especially important for businesses in the context of modern reporting requirements.
Personalization of user experience

With the introduction of support for the Digital Ruble, NSPK also plans to expand the functionality of the Universal QR Code, including the ability to personalize the start page for users. When scanning the code, customers will be able to see information about available cashbacks, promotions and bonus programs related to the use of the Digital Ruble. This will create additional incentives for users to switch to the new payment format and increase loyalty to various banks and retail chains.