Vista Bank has joined the national payment system RoPay, an infrastructure that enables instant A2A money transfers in RON, with no need to enter banking information.
The first RoPay feature offered by Vista Bank is P2P instant payments. The beneficiary simply generates a QR code, and the payer scans it to send the funds directly from their mobile banking apps. Both participants have to be next to each other, have their mobile banking apps installed, and their banks must support RoPay OR code instant payments.
RoPay adoption among banks was supported by the joint effort made by the banking community and TRANSFOND. TRANSFOND, together with all the categories of payment service providers, contributes to the digitalisation and the building of a more transparent and efficient payment ecosystem in Romania. RoPay is an alternative to cash and card payments, and TRANSFOND believes that it will become a part of everyday transactions.
Instant P2P payments
RoPay was created by TRANSFOND and the Romanian Banking Association. It is offered to end customers through the mobile banking apps of Romanian commercial banks, and aims to shift payments from cash to digital, offering a fast, free for individuals, and easy to utilise payment method.
The RoPay feature is available in Vista Mobile Banking and allows individuals to receive and send money by utilising a QR code. The receiver selects the account into which they wish to receive the funds, enters the desired amount, and generates the QR code. The payer then scans the QR code with their app, checks the payment details, and authorises the transfer. The amount can be fixed or editable, in which case the payer can adjust the amount after scanning the QR code.
Integrating RoPay is part of Vista’s strategy to further grow its platform to offer fast and secure solutions to its clients. It aims to facilitate instant money transfers between individuals in proximity and focuses on payment digitalisation and the expansion of interoperability within the Romanian banking system. In the upcoming period of time, Vista Bank will continue to expand RoPay with features such as alias-based transfers, POS, e/mcommerce, bill payments, and more. To implement RoPay, Vista Bank partnered with Getik, a Romanian technology company specialised in digital solutions for the banking industry.
