A figure in the law: the State Duma will consider the project on a unified QR code in January

By the end of this month, the State Duma is to consider in the first reading a bill on a single QR code, Izvestia has learned. It will allow purchases to be made with the digital ruble: the document obliges federal retailers to start accepting a new type of national currency as early as July 1. This is stated in the papers of the Council of the State Duma, with which the editorial board got acquainted. Meanwhile, the Duma Committee on Protection of Competition has already prepared a negative response to the project of colleagues. In it, the deputies criticized the proposal to transfer the creation of a single QR code to the National Payment Card System. The Constitution of the Russian Federation "does not allow economic activities aimed at monopolization and unfair competition", the parliamentarians noted. Izvestia" analyzed how this innovation will change the market and what the business community thinks about it.

What is a digital ruble

At the end of 2024, Anatoly Aksakov, the head of the Financial Market Committee, together with a group of deputies and senators, introduced a bill to the State Duma on the introduction of a single QR code in the Russian Federation, with its help Russians will be able to pay for purchases with a digital ruble, it should be created by the National Payment Card System (NPCS). The project establishes the basic rules of the new type of payment means in the country and also obliges large federal trade to start working with it. According to the idea of the authors of the initiative, this should happen as early as July 1, 2025.

In the document of the Council of the State Duma says that the parliament has already established a responsible committee for this document, as well as sent it to the government for review by January 16. In addition, the lower house council papers mention that the draft should be prepared for consideration in the first reading as early as January. The main author of the initiative, Anatoly Aksakov, told Izvestia that "tentatively, the document will be considered during this period." According to him, the Central Bank and the government are preparing to officially support the draft law and the new obligations for trading prescribed in it.

Photo: IZVESTIA/Sergey Lantyukhov

- Our initiatives are aimed at establishing equal conditions for all market participants, this can be achieved through the use of a single QR code. Now the large market participants have actually monopolized such a service as payment for goods by means of a code. It is arranged in such a way that a person uses only the development of a certain organization without resorting to other analogues, - he has explained. - Moreover, some banks take a kind of commission from the trade for using their QR codes. The unified mechanism will allow retailers to save in this case also on acquiring.

It is noted in the explanatory note that the unified QR code "will reduce the costs of the participants of the financial market, trade and service enterprises, as well as will ensure the continuity of operations on payment with digital rubles.

What comments have been received to the bill

The bill on the universal QR code has already managed to get a negative feedback from the colleagues from the State Duma Committee on Protection of Competition. The deputies were confused by the fact that the NSPC gets the exclusive right to create a universal QR code. At the same time, the Constitution of the Russian Federation "does not allow economic activities aimed at monopolization and unfair competition", the document notes. "The mentioned provisions of the draft law come into conflict with the above mentioned constitutional provisions, fundamental principles of the state policy on the development of competition and antimonopoly legislation", - is noted in the review.

Such an approach, according to the committee members, will close the market for other players, which will harm the industry and its development, for example, in terms of creating new payment services, it also said. People will be deprived of the opportunity to choose products favorable for themselves, the committee believes.

Photo: Izvestia/Eduard Kornienko

They are ready to support the project if the authors exclude these provisions from the document by the second reading.

The regulator's position itself, which is that the code should be created only by the NSPK, initially looked like a kind of "market ultimatum," said "Izvestia" independent expert, economist Andrei Barkhota. That is why it is no coincidence that in September 2024 the largest banks formed an association to create an alternative unified QR code - it included Sberbank, Alfa Bank and T-Bank. Participation in the association is open and equal for all participants, both current and future.

The association intends to create a single QR code on the basis of the already existing Multi QR technology, it is a more optimal way for such a service. Banks will not have to create a new infrastructure for it. Such a decision does not mean the refusal from one or another platform, the products of NSPC and banks can work in parallel. It is more correct to allow the coexistence of two QR codes, considers Andrei Barkhota.

A single QR code from NSPK, protected from market competition by administrative measures, will lead to monopolization of this segment of payments, Yuri Belikov, Managing Director of Expert RA rating agency, suggested in a conversation with Izvestia. At the same time, the development of such settlements will be frozen, and investments of the largest banks in their own payment solutions may simply become worthless, added Andrei Barkhota. In addition, payment market participants risk losing a significant part of commission income, agrees deputy chairman of the board of Finam Bank Alexander Neporozhny. According to him, this will lead to an adjustment in the value of shares of publicly traded banks.

Photo: IZVESTIA/Sergey Lantyukhov

"Izvestia" sent requests to the FAS, the Ministry of Finance, the Ministry of Industry and Trade, the Association of Banks, the NSPK and major banks.

Who supported the new means of payment and the unified code

The Central Bank told Izvestia that they support the bill introduced to the State Duma, it provides that the universal QR code will become mandatory. The document also defines the terms for banks and trade enterprises, when they should start accepting digital rubles, it was added there.

- Preliminary results of piloting show that both systemically important banks and the largest trading enterprises are able to fulfill the provisions of the bill under consideration within the proposed timeframe, - the Central Bank has noted.

"Post Bank" also supported the bill Anatoly Aksakov. However, it noted that there are risks: retail outlets must prepare all the necessary infrastructure in a short period of time, because the work of banks-acquirers will change, plus stores will need to install equipment to display a single QR.

VTB supports the project on creation of the universal QR code in the Russian Federation and takes an active part in it, the financial organization told "Izvestia".

Photo: Izvestia/Anna Selina

- In September 2024 we launched the universal QR code in our application within the framework of the pilot project ahead of schedule. Retail clients of the bank and now can pay for goods and services through the SBP with the help of a universal QR code in stores that have switched to the updated format, - it was noted there.

In order the introduction of the unified QR code was effective and smooth, the participants of retail trade need a transitional adaptation period of at least two years, the chairman of the presidium of the Association of retail trade companies (ACORT) Igor Karavaev noted.

- The postponement is needed to develop software that will ensure money transfers with a high level of reliability and security. Time is also needed to test the new software and train the staff," the expert explained.

ACORT has already sent a proposal to the Ministry of Industry and Trade to postpone the introduction of a single QR code in retail chains from July 1, 2025 to July 1, 2027.