After the launch of the unified QR code, entrepreneurs in Kazakhstan will be able to independently decide how many payment terminals to keep. According to the National Bank, the new system could reduce fees for accepting cashless payments, reports the website infohub.kz.
This was stated at a briefing by Deputy Chairman of the National Bank Binur Zhalenov. Today, many stores, especially grocery stores, use several POS terminals from different banks so that customers can pay in a convenient way.
According to Zhalenov, it is premature to say that after the launch of the unified QR, entrepreneurs will begin to massively abandon the second or third terminal. "The entrepreneur will then make a decision, because each bank sets its own service tariffs. Our law stipulates that within our system and the unified QR, they must be non-discriminatory. That is, at least they should not be higher than existing analogues. In general, tariffs are likely to be cheaper. Because the costs and overhead for banks are lower than for card transactions. We will monitor this work and observe," Zhalenov said.
He noted that the final decision will primarily depend on the cost of service that banks offer. The introduction of a unified QR code should reduce intersystem barriers in the payment market, which will reduce banks' processing costs and, consequently, tariffs for entrepreneurs.
The National Bank emphasized that it will monitor compliance with non-discriminatory commissions within the new system, which should not exceed current service conditions. Today, July 17, it became known that Kazakh banks have connected the common QR code.