The National Bank of Kyrgyzstan plans to expand and scale up QR code-based payments. The central bank has drafted a new resolution on the matter, which has been submitted for public discussion.
The initiative proposes expanding the use of QR code payments in retail and service businesses, as well as in state and municipal institutions.
The resolution also aims to optimize reporting formats and improve access to consolidated data for consistent analysis and ongoing monitoring.
It is proposed to amend the rules for making payments and transfers using two-dimensional barcode symbols (QR).
Participants in payment systems must monthly, no later than the fifth day following the reporting month, electronically submit to the National Bank reports on entities accepting payment for goods/services using a QR code and on the number of installed QR codes by regions, the National Bank proposes.
The bank has prescribed the format of reports:
- Report on entities accepting payments for goods/services using a QR code;
- Report on the number of installed QR codes by regions.
