The domestic supermarket chain has introduced the qvik payment solution developed in Hungary in an initial nine shops.
According to co-owner and CEO Vilmos Lázár, CBA wants to remain innovative in the competitive retail sector with this step, both in terms of the products offered and in terms of modern and secure payment methods. With the qvik option for mobile payments, a QR code is displayed on the checkout display or credit card terminal in stationary retail stores, which is scanned and authorised by mobile phone.
This solution, which benefits retailers, financial service providers and consumers alike, enables fast and secure transactions. Gergely Czimer, Managing Director of Raiffeisen Bank, explained that his bank supports the qvik payment method for the CBA network. Further technical developments will follow in order to expand the offer for merchants. This makes Raiffeisen the first bank to offer this payment service in stationary retail.
Lajos Bartha, Managing Director of the National Bank of Hungary (MNB), announced that 30,000 online shops have already introduced qvik payments since the system was launched in September. The MNB’s own clearing centre GIRO Zrt. operates the central infrastructure, while Innopay provides the corresponding technology. MNB aims to establish qvik payments in the same way as credit card payments in the long term and therefore supports the development and communication of the instant transfer system.
Because qvik is based on an instant transfer system, merchants can expect more favourable conditions compared to payments with conventional bank cards. For CBA, this is a strategically important step towards offering customers a modern payment alternative and at the same time strengthening its own competitive opportunities.
