IPS – points and manner of payment
NBS IPS QR code – payment of utility bills
The NBS has standardised the IPS QR code which enables users to pay their bills (for utility and other services) by simply scanning the NBS IPS QR code already on those bills. If you decide to pay your monthly bills in this manner, you need to find the NBS IPS QR code on the bill and scan it using your m-banking app.
Settling monthly bills via the NBS IPS QR code is a big step forward in enhancing the digitalisation of payment services, which greatly facilitates the process for users, i.e. citizens. Using the NBS IPS QR code, citizens can pay their liabilities in a few moments, without having to enter the data in the payment order, simply by using their mobile phone, i.e. m-banking app. Please note that once you pay the bills by scanning the NBS IPS QR code, you no longer have to resort to templates or to enter the data in the payment order.
All big issuers of monthly bills prepare the bills for citizens with the NBS IPS QR code on them.
What does the NBS IPS QR code bring to bill issuers, i.e. payees?
This way, issuers of bills (utility and other companies that issue monthly bills to citizens) improve the quality of their services because they enable citizens (payers) to download the necessary data by scanning the code and to pay the bills in a very simple manner. It is important to know that after scanning the NBS IPS QR code, the payer may not change certain data downloaded from the code.
What does the NBS IPS QR code bring to citizens?
Payment security, speed and efficiency. By paying via the NBS IPS QR code, you as a citizen, i.e. a payer of bills, do not need to waste additional time on filling in orders or changing templates that you previously saved. After scanning the NBS IPS QR code, you need to continue with the payment process in your m-banking app and to confirm the transaction in the usual manner (PIN, fingerprint, facial recognition).
You can find the NBS IPS QR code, e.g. on bills or payment orders online, and in case you select to pay in that manner, this does not constitute IPS payment at a point of sale executed via the IPS QR code.
You will be able to tell that this is not an IPS payment at a point of sale because, as with any scanning of the NBS IPS QR code, you will see an automatically filled in payment order in which you can change, for example, the amount or the payment purpose.
The NBS IPS QR code includes payment instructions and it does not require you to retype the data, and since this payment is no different from the current manner of payment via, for instance, a payment order, bank may charge a transaction fee to you, as the payer, in accordance with the contract.
No transaction fee is charged to payers when executing IPS payments at a point of sale.