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Shopping by scanning QR code. MIA Instant Payments system becomes available to entrepreneurs


https://www.ipn.md/en/shopping-by-scanning-qr-code-mia-instant-payments-system-becomes-7967_1106115.html

The MIA Instant Payments system becomes accessible to the business community as well. From July 31, entrepreneurs from all over the country will be able to make immediate and low-cost payments, regardless of the merchant’s bank, the National Bank of Moldova has said. The transfers can be made with the help of a QR code or a link, IPN reports.

The new payment methods are simple and intuitive for both merchants and customers. Transactions can be performed anywhere and anytime without extra effort, and funds become available to traders in just 10 seconds. This aspect allows a much more efficient management of cash flow, which is crucial for the success of any business, according to a press release of the NBM.

The commission charged for accepting payments for most businesses is 0.8%. For social services, such as education, hospitals, public transport or utility payments, the commission cannot be higher than 0.5%.

QR code payments allow customers to make payments at cash registers by scanning the merchant’s code, directly from the mobile phone or financial app. Merchants will have three types of QR codes at their disposal: static QR (with or without amount), dynamic QR, hybrid QR.

In the case of link payments, the service provider directs the buyer to a secure payment page, where they will be able to select the desired financial application and confirm the transaction. Merchants can integrate the payment link into online stores or send it directly to shoppers via email, text messages, or messaging apps.

MIA Instant Payments is a payment system developed by the National Bank of Moldova and offered through the mobile financial applications of payment service providers (banks, non-bank PSPs). The system has already been adopted by over 200,000 single users, individuals who have transferred over 650 million lei through MIA.