Fix Price to Start Accepting Digital Ruble Payments on September 1
Fix Price will begin accepting digital ruble payments on September 1, with customers able to use the new payment option at Sberbank terminals.
The rollout will require no technical changes on Fix Price’s end. Sberbank is expected to finish upgrading all of its terminals by the end of August, after which the QR codes already familiar to shoppers will become universal payment codes. Customers will scan these codes to pay with digital rubles.
The digital ruble is a new form of Russia’s national currency. Alla Bakina, head of the Bank of Russia’s National Payment System Department, said all of the country’s systemically important banks are ready for its broad rollout starting September 1. From that date, banking apps will include an option for users to open digital wallets.
Under Russian law, large retail chains with annual revenue of more than 120 million rubles (about $1.4 million) must begin accepting digital rubles in September. The requirement will later be extended to smaller businesses.
