One code for all banks: new payment system to be rolled out in stages through 2028

Starting September 1, Russia will introduce a universal QR code for paying for goods and services. The corresponding federal law No. 248-FZ was signed back in July 2025.

State Duma deputy Dmitry Svishchev (LDPR) explained the mechanism of the new system. Instead of multiple codes from different banks at the checkout, there will be a single code generated through the National Payment Card System (NSPK). After scanning it, all available payment options will appear on the screen, and the customer will be able to choose a convenient method.

“What will change for the customer? First, the confusion at the checkout will disappear. Currently, one checkout may display QR codes from different banks, and the customer spends time looking for ‘their’ one. Second, freedom of choice in payment methods,” the lawmaker noted.

Svishchev added that when paying via the universal code, all bonuses and cashback provided by the bank will remain in place. The main goal of the reform, the deputy said, is to strengthen competition in the payment market. Entrepreneurs will no longer be tied to a single provider, and banks will have to compete for customers through service quality.

The changes will be introduced in stages. From September 1, 2026, systemically important banks and large retail chains with revenue exceeding 120 million rubles will join the system. From September 2027, banks with a universal license and businesses with revenue from 30 million rubles will connect. From September 2028, all banks and merchants with revenue from 20 million rubles will be included.

The law provides for two exceptions: it does not apply in areas without internet access and to outlets with annual revenue below 5 million rubles.

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