Oschadbank has implemented a convenient payment method via QR code in the OschadPAY application

Oschad has introduced a new type of non-cash payments at retail outlets - using a QR code.

QR payment is an alternative way to make payments in the OschadPAY service (cash register in a smartphone), which allows customers to pay for purchases online using any payment cards, including those that do not have contactless payment elements.

Through QR payment, merchants can build remote sales channels and interact with customers.

The new feature works as follows:

• the merchant generates a QR code for payment via OschadPAY;
• the merchant can send this QR code to the customer in the messenger, or the customer scans the QR code from the merchant's phone;
• the QR code takes the customer to the payment form, and he chooses a convenient payment method - by card details or via Google Pay;
• after payment, the merchant sends a receipt in a way convenient for the customer - by message or e-mail.

There are no fees for transfers using the QR code. Transfers are made instantly.

"This technology is convenient, affordable, and safe for both buyers and sellers. Our new product will be especially relevant for entrepreneurs who run businesses on social networks. It makes it possible to send a QR code to the buyer, who can easily scan it and pay the bill with a card - without complicated and time-consuming payments using the card number or the seller's IBAN account details, which usually incur a commission," said Volodymyr Moskalenko, Head of the E-commerce and Payment Instruments Department of Oschadbank.

OschadPAY allows accepting contactless payments with cards and NFC devices such as smartphones, smartwatches, NFC rings, etc. It can be used at fairs, exhibitions, festivals, in the delivery of orders by courier services, in taxis, etc.

In 2023, 2.5 million transactions totaling more than UAH 2 billion were made using OschadPAY. More than 9,000 users of this mobile application can make cashless payments via their smartphones using contactless cards and wallets Apple Pay and Google Pay.