will become a "key" for buyers to various payment methods of any banks.

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However, not all banks are eager to switch to the new QR code from the Central Bank. On the eve of the publication of the VTB message, Sberbank representatives announced the formation of a consortium "to create high-tech payment instruments", which included Sberbank, Alfa-Bank and T-Bank. The first such instrument should be a single payment QR code based on the multi-QR technology developed by Sberbank.

According to Dmitry Malykh, Senior argentina whatsapp number databa se Vice President of Sberbank PJSC, Head of the B2C Transaction Banking Block, Sberbank has been developing the multi-QR platform since 2019 as part of the SberPay family, 18 banks are working with it and negotiations are underway with six more. He noted that Sberbank's development is an alternative solution that will allow it not to abandon one or another platform existing on the market.

"From the banks' point of view, building QR technology on the existing "rails" of multi-QR technology will avoid the need for re-integration with all consortium participants and building additional infrastructure, which would mean additional costs for them. In addition, banks have the opportunity to manage additional payment scenarios, for example, BNPL services, tips and others," said a representative of the T-Bank press service.

According to a representative of the Sberbank press service, when connecting to the consortium platform, banks will not need to update their mobile applications, and 87% of active clients are already connected to it, and retail outlets will not have to spend time and money on technical equipment and staff training, since multi-QR is built into more than 2 million terminals throughout Russia.

"Banks have more experience, knowledge and expertise in innovation, the development and implementation of technologies in the commercial sector are fast and efficient. If we lay the foundation of this infrastructure together, then it will be much easier to implement new functionality, new scenarios and get excellent results for clients tomorrow. Universal QR NSPK and multi-QR can successfully exist in the same market. To do this, you only need to set up the integration of our platforms, which will make the customer experience seamless and increase the speed and quality of service. The consortium's solution already supports payments under the SBP. Moreover, the consortium offers participating banks and their clients additional payment options, such as displaying balances on card accounts, bonus accounts, installment mechanisms," said Dmitry Malykh (Sberbank).

According to Leonid Delitsyn, an analyst at Finam (FG Finam), banks are experiencing an invasion of their industry from technology conglomerates and ecosystems with a large number of loyal customers, such as MTS Bank, which is part of an operator holding with 80 million subscribers. From his point of view, banks are trying to "go on the offensive" and become IT market players interested in technological support for payments.

"In such a situation, the Central Bank will decide how many banks society will need in the future and how to develop the rules of the game for them," said Leonid Delitsyn. "For example, the regulator recommended that small and medium-sized banks outsource information security services. Now banks can be offered a technological solution for QR codes developed by an "equidistant" developer. Small banks will most likely have to obey and focus on banking services, and the largest banks may try not to give control over technologies to the regulator and third-party developers, but to develop solutions themselves and gradually consolidate the market around themselves. The largest banks want to have time to take their place in the future, fearing that the regulator will one day say that in the era of the digital ruble it is not clear whether banks are needed at all, and go ahead and submit to the telecom or social network ecosystem. Therefore, they demonstrate that they are viable, can cope with their tasks themselves and will make users happier than the regulator's contractors."