This year, all banks introduced IPS payment. It's a QR code payment.
If you have your bank's mobile application, then you certainly have IPS payment using a QR code. Some banks pointed it out right at the beginning, some pointed it out through some options, but certainly every mobile application from your bank has it.
You may have noticed that you receive bills for electricity, phone, which also contain a black and white square that is just for that.
Why is this better than paying by card?
Compared to paying by card, it's better because you don't enter your card or any other information anywhere, there's simply no entry at all.
The next thing that goes for it is that there is no way to get anything wrong, no card number, no verification number, nothing. Simply because there is no input then there is nothing to go wrong.
Why is it better than regular payment?
IPS payment is actually just that, a regular payment that just shortens the typing process. With the QR code you scan, you just skip the typing part and everything else is the same. Therein lies the advantage of this.
There is no input, so you can't do anything wrong.
How does IPS payment work?
Pretty simple stuff. The code generated for your payment contains the information you are paying for, the account number of the company you are paying to, the name of the company, the amount, the reference number and the purpose of the payment. When you scan the qr code (a black and white cube), the application itself recognizes the templates and thus enters them into the fields, just like with classic payment, where you enter the fields individually.
If you have the urgent option, you can also pay with an urgent order and the money will be sent within two minutes, and the person you are paying will receive the money within a few minutes, regardless of the working hours and day. If the urgent option was not used, then the money is received as in the case of a classic payment, on the next working day during working hours.
What does a QR code look like?
