Even though the World Health Organization has not issued any warnings about the possibility of spreading the coronavirus through the use of cash, customer appetite for digital banking services is likely to increase, forcing many traditional financial institutions to fast-track digital innovations. As a result, many legacy banks and credit unions may turn to fintech firms for assistance in rolling out improved digital banking solutions. Accordingly, many banks have taken steps in their day-to-day functioning to reduce the risk from the coronavirus outbreak. Why take the risk with traditional payment methods which could expose countless people to the COVID-19 infection, when we should be able to just wave our phones over no-touch payment terminals. Will the world finally be ready to adopt digital wallets now that their lives may depend on it?
The National Bank of Serbia (“NBS“) has announced that as of 27th February a new payment instrument is available at points of sale. Payments can be made through an advanced mbanking application by simply displaying or scanning the NBS IPS QR code. Accordingly, you can pay via the NBS IPS QR code by selecting the “IPS show” or “IPS scan” option.
Use of this payment method should significantly reduce the risk of consumers contracting coronavirus. Senior citizens are likely to have a deep-seated animosity towards these new technologies due to a lack of knowledge, regardless of the fact that they are those who are the most vulnerable. That said, we have faith in our elders and their wisdom.
For more information, please contact us via covid19@geciclaw.com