C2B Instant Payments via QR Codes

<New set of product options, separately licensed>

OpenWay provided a QR code generation solution to a national end-to-end instant payment system in Eastern Europe. It supports C2B transactions where consumers scan a QR code to pay. With this service, merchants can lower account-to-account transaction fees and keep equipment costs close to zero.

Sample architecture of the connection to the domestic / regional instant payment scheme on WAY4

We have developed a dedicated interface for data exchange between WAY4 and instant payment schemes for C2B payments via QR code. WAY4 receives transaction details from the scheme, embeds them into a QR code and sends it to a POS terminal or cash register. The code can be static or dynamic. 

For each generated QR code, the WAY4 database assigns and stores a unique code identifier. Using this ID, our system requests the payment status from the payment scheme and informs the merchant. We provide an API that integrates QR code payment notifications into the merchant’s mobile banking app. Alternatively, our system can notify merchants via SMS.

In the next release, WAY4 will support the entire C2B payment flow according to the specification of the instant payment scheme. Our interface will support additional message exchange for real-time payment processing. 

Our new interface to instant payment schemes for B2C and QR code payments will be based on the ISO20022 protocol. This allows WAY4 to be easily made compatible with instant payment systems in most regions. 

It is also possible to build a closed-loop end-to-end instant payment system based on WAY4. If you would like to get an estimation, please request it from your BRM.