Digital ruble, universal QR code to be gradually introduced into circulation in Russia
MOSCOW, July 23. /TASS/. The digital ruble and a universal QR code will start to be implemented in Russia’s payment system. A respective bill has been signed into law by President Vladimir Putin.
The implementation will be gradual. Sellers of goods with annual revenue of 120 mln rubles ($1.9 mln) or more, who are clients of systemically important banks, will provide customers with the opportunity to pay in the digital ruble from September 1, 2026. Those with an annual revenue of over 30 mln rubles will join such sellers from September 1, 2027, while all remaining sellers with annual revenue of less than 30 million rubles will have to comply with the requirements starting from September 1, 2028. The corresponding banks must also switch to the digital ruble within the same time frame.
Participants of the digital ruble platform (banks and branches of foreign banks) must provide clients with the possibility to transfer digital rubles using a universal payment code. In turn, money transfer operators must provide details or a link to them only in the form of such a code. To do this, operators will implement the code in all software and devices for calculating non-cash money on their part and on the client's side. Individuals will also have to use the universal code when transferring digital rubles if they pay for goods of legal entities or individual entrepreneurs.
