Sberbank argued with the Central Bank over a single QR – Kommersant
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The introduction of a single QR is perhaps “the most negative decision” that the Bank of Russia can take, says the chairman of the board of Sberbank (MOEX: SBER) German Gref.
“Have you seen anywhere in the world where a government structure generates innovation? And you won’t see it. Impossible,” said the top manager.
According to Mr. Gref, in order for the financial sector to continue to rapidly develop innovatively, it is necessary to encourage market participants to invest in it. “And not to act in such a way that as soon as the first one has put a huge amount of effort into this, invested a lot of money, etc. … to take this technology and this opportunity away from him. Regulate it in such a way that it is not profitable for him and run everything through some kind of common office,” the top manager noted. But, he hopes, such a “colossal mistake” will not be made.
Sberbank is discussing this topic with the Central Bank and has already proposed a solution to integrate Sberbank’s omnichannel QR, to which partner banks are connected. According to Mr. Gref, this system serves 96% of the entire client base of Russian banks. At the same time, among the large banks, only VTB is not connected to it. This approach will create a competitive environment between Sberbank and SBP, the top manager believes. Accordingly, Sberbank will want its partners to stay with it and will offer them some innovations, and “there will be normal competition.” However, according to German Gref, the Central Bank “approaches this issue very carefully.”
On February 14, the director of the national payment system department of the Bank of Russia, Alla Bakina, on the sidelines of the “Cybersecurity in Finance” forum, noted that the Central Bank continues its dialogue with the market on a unified payment QR code, and technological solutions may be announced as early as February – March. Previously, the idea of a single QR was put forward by VTB.
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