Consumers can complete RF/QR code payments to businesses and other entities of the private and public sector, using payment means of their preference (web banking, mobile banking). The beneficiary’s IBAN is not required. The RF payment code is a unique, 25-digit code that allows payments to be completed by credit transfers. Moreover, the RF code can take a QR form, so that the payment is completed after scanning the QR code via mobile banking applications of Banks, offering this service.
An indicative list of public and private sector entities that use the payment code service contains tax authorities (using it to collect taxes such as circulation taxes), social security institutions, companies in the energy and telecommunications sector, insurance and pharmaceutical companies, companies offering mailing services, businesses in the car industry, private educational institutions, clothing and make-up companies etc.
Transactions are conducted within the Payment Service Provider's secure environment simply by filling-in the payment code or scanning the QR code via mobile banking
The payment procedure is completed within a few seconds, 24/7/365, whereas in many cases the beneficiary (private/public sector entitiy) is instanlty notified of the payment.
Payments are complted using the RF code or scanning the QR code (when offered as an option). There is no requirement of searching the business's or organization's category or name on the web banking or mobile banking app.
Transactions are conducted within the Payment Service Provider's secure environment simply by filling-in the payment code or scanning the QR code via mobile banking
The payment procedure is completed within a few seconds, 24/7/365, whereas in many cases the beneficiary (private/public sector entitiy) is instanlty notified of the payment.
Payments are complted using the RF code or scanning the QR code (when offered as an option). There is no requirement of searching the business's or organization's category or name on the web banking or mobile banking app.