Presently, the QR codes using becomes more and more popular in the world due to active development of the mobile technologies.

QR (Quick Response) code is the two-dimensional barcode containing certain information and reflecting ability of the devices and software to identify and convert the data contained in QR code.

Initially, QR code was used in the industry in Japan to mark detail parts, items, spare parts when transporting them. Upon rather long period of time the sphere of applying the code expanded notably and today the QR code is used in all spheres of the human life.

Example of QR code

The QR codes are comfortable in using due to the following features:

-possibility of inclusion to the code of rather big volume of data;

-simplicity in reading and scanning (simplicity in reading and scanning (e.g. with the help of mobile phone) that allows transform information immediately to electronic format, but not by hand (e.g. initiate a payment, add contact data, move to web sites);

-availability of algorithm for correction of mistakes, for reading of damaged codes (wiped out, crossed out, having defects in printing);

-availability of free special apps for reading and creation of own QR codes.

Today, the QR code technology is widely spread in Asia; has got development in Europe and North America. In Japan, China and India the QR codes are especially popular and are present practically in all the goods, are placed in advertising booklets, catalogues. Using of QR codes is very popular in the financial sphere, in banking.

In China, using of WeChatPay solution (payment system based on WeChat messenger) and Alipay solution (one of largest payment systems of China) is the most spread system of performance of payments based on QR codes. In 2017, there were performed QR code payments in an amount of US$18.5 trillion.

The QR codes spread in China owing to the messenger WeChat appeared in 2011. One of distinctions of this messenger compared to the other ones is that it contains a unique QR code for each user-specific profile and accordingly the integrated scanner of QR codes, owing to which the clients in China began to use them in the everyday life. Now, the WeChat is not only the messenger, but the whole ecosystem representing at once the payment platform, social network, environment for elaboration and advancement of games and services. In consideration of the role of electronic commerce in China, the QR code is a powerful tool of marketing and monetization for enterprises, institutions. In 2012, all the brands designed their own sites with individual QR code.

Today, for effecting of payment for goods and services, the buyers can instead of using cash or bank card, just scan a QR code and confirm fulfillment of such operation with the help of mobile telephone.

It is not difficult to generate and use the QR codes and therefore they are popular among the small retailers that do not accept the bank cards. In a number of large cities of China the municipal services, medical services and urban transport are paid by means of QR code.

QR codes are also used widely in the bank system of India. In 2016, National Payment Corporation of India, for the purpose of facilitation of payments and transfers on the basis of IMPS (Immediate Payment Service) issued own application BHIM (Bharat Interface for Money) working with all banks within the country.

In the system of non-cash payments in the USA the QR codes become popular too, mainly on the reason of big number of tourists to the USA from China. The Chinese tourists depended heavily on their mobile e-purses Alipay and WeChat. Thus the company Walmart decided to introduce the payment function in addition to the existing mobile application Walmart Pay. This technology allowed the buyers scan the QR code generated at the cash desks of super markets in the USA at the moment of payment for gods and perform non-cash payments immediately.

The SCVNGR Company was among the first ones that issued such solution (the solution is used in 14 thousand trading outlets) and the company PayPal. Consortium of large enterprises of retail commerce of the USA with overall turnover of more than US$1 trillion develops also own system of payments with the help of QR codes.

The Central Bank of Turkmenistan jointly with the Joint-Stock Commercial Bank “Rysgal” work over introduction of system of quick payments in Turkmenistan.

Introduction of this technology will allow increase accessibility of bank services, quality of services to the population, reduce costs of representatives of small business and of banks for purchase and maintenance of POS, improve the operation of the payment system of the country, increase the financial inclusion and intensify the processes connected with digitalization of the national economy.

Introduction of the platform to the financial market of Turkmenistan will ensure conduction of online transfers and settlements in the real time regime at the scheme 365/24/7. The platform would allow:

1. Perform settlements with individuals at the trading places;

2. Perform transfers between individuals;

3. Perform transfers of individuals to legal entities as a payment for goods, services (payment for goods, services, payment of bills, municipal payments);

4. Other kinds of payments.

Introduction in Turkmenistan of the fast payment system with applying of QR codes will allow implement new innovative projects within the country, achieve new heights in the national economy development and offer modern, comfortable services saving the clients time and funds when performing non-cash settlements.

We are very grateful to the President of Turkmenistan, who is making unlimited efforts to ensure the well-being of our people!

Teacher of the River secondary vocational school of the city of Turkmenabat: N.Hudaykuliyeva