More than 700 merchants of Moldova have activated new payment methods within 3 months after the launch of MIA for Business instant payment system
In particular, more than 700 entrepreneurs in the country have implemented MIA for Business, accepting QR code and link payments, providing customers with a wider choice of payment methods. So far, 24 thousand QR codes have been generated, by means of which about 6.4 million lei have been transferred to merchants. The MIA system for business offers alternative ways of accepting payments in electronic form, regardless of the financial organization where the merchant has accounts. Thanks to the new business-specific features of MIA, entrepreneurs can accept QR code payments at the point of sale, integrate the MIA payment button into the online stores they manage and offer payment by link for remote delivery of goods. The main benefit for businesses is that the transferred amount is fully credited to the company's account in just 10 seconds. An important advantage is a flat fee of up to 0.8% applied to most businesses when accepting payments; for social services (public transportation, hospitals, education, and utility payments) the fee cannot be higher than 0.5%. QR code payments allow shoppers to quickly make payments at cash registers by simply scanning it with a cell phone or using a financial app. Merchants can generate 3 types of QR codes: static QR code (shoppers can scan and pay for goods and services in seconds using the code, without additional hardware or software), dynamic QR code (QR code can be generated for a specific time period) and hybrid QR (QR code can be displayed at cash registers). Link payments can be made online based on a unique link provided by the service provider. This link directs the shopper to a secure payment page where they select their desired financial application and enter their payment information to complete the transaction. Sellers can embed the payment link in online stores or send the link directly to buyers via email, text messages or messengers, simplifying the process of completing the purchase. Sellers can ask financial institutions to connect MIA for Business and choose their preferred payment acceptance method. At the same time, the National Bank of Moldova has provided merchants connected to the MIA system with a series of materials to inform customers about the new payment acceptance methods. The MIA system manual for the business environment, as well as stickers for cash registers can be downloaded at mia.bnm.md. // 11.11.2024 - InfoMarket.
