Moscow, 14 June 2022 – X5 Group (“X5” or the “Company”, LSE and MOEX ticker: FIVE), a leading Russian food retailer, has connected self-checkout machines at X5’s Pyaterochka proximity stores to the Faster Payments System (FPS). Pyaterochka customers can now use the FPS to pay for their purchases at more than 9,000 self-checkouts.
By the end of 2022, X5 plans to connect all checkouts, including classic stationary checkouts, in the Group’s retail chains across every region where X5 operates.
The project’s technical partner is Rosbank. To make an FPS-based payment, the customer needs to scan a dynamic QR code using their phone’s camera or the Bank’s mobile app and confirm the transaction. Money will be transferred from the customer’s account to the merchant within several seconds upon confirmation in the app. The dynamic QR code includes the ticket amount, allowing the seller to control the transaction amount. The customer only has to confirm the transaction.
X5 Group, Rosbank and the National Payment Card System (NSPK) made the first transaction via the FPS using a dynamic QR code in late 2019. X5 became the first grocery retailer to process a payment with the new technology.