The Fast Payment System (FPS) is becoming increasingly popular. Especially against the background of problems with contactless payment that some smartphone users are experiencing. It is often inconvenient for them to carry a plastic card - it is much easier to scan a QR code and transfer money without a commission.
But what about credit cards? After all, the user essentially makes a transfer, and the bank can set additional interest rates for them. Let's talk about how the SBP works and whether it is possible to pay with a credit card using a QR code without overpaying.
How the Fast Payment System works
SBP is an instant transfer service. It can be used to send armenia mobile database money not only to individuals, but also to legal entities. Moreover, for the latter, the commission will be even lower than with standard acquiring. Therefore, do not be surprised that the cashier may ask you to pay for your purchase using a QR code. In practice, this helps the store save on payment processing.
To quickly pay for purchases, simply download and installSBPay applicationto your phone. After that, you can easily scan the QR code located on the payment terminal screen or printed on paper, and then make a payment.
We talked about the technology of purchases under the SBP in more detailHere. In short, the system has its own features. The main one is the ability to transfer funds from one account to another. Bank card details are not included in the transfers, so it is impossible to compromise them.
Payment by QR code in a store is always beneficial for the seller. In this case, they pay a maximum of 0.7% as a commission, and not about 3-3.5%, as with standard acquiring. But it is from the latter that the bank receives profit, part of which is shared with customers within the framework of loyalty programs and when calculating cashback. Therefore, the latter is often not accrued to users of debit cards. But what about credit cards and are there risks of overpaying? Let's figure it out further.