Русский
VTB has launched instant payment for goods via QR code in Egypt, the bank has said. Russian VTB clients visiting Egypt simply need to point their phone camera through the VTB Online app at the QR code on the receipt or at the terminal in large retail outlets in the country. Payments are made in rubles with subsequent conversion into Egyptian pounds. No commission is charged for processing the payment. The limit for a single transaction is ₽25,000 (US$335), with a daily limit of ₽350,000 (US$4,660). There are no restrictions on the number of purchases.
Alexei Okhorzin, VTB’s head of the retail business products department, said that “Egypt is among the top three most popular destinations for tourists; in 2025, more than 1.7 million Russians visited the country. Egypt is actively developing its digital economy, supporting the introduction of QR payments and the expansion of cashless settlements. The enormous potential of the local market is accelerating these processes as more than 40% of local residents still do not use banks.”
The system is sanctions proof as it does not require SWIFT or similar transactional mechanisms and is conducted via national telecommunications and satellite networks. A similar service already operates in Vietnam, Kyrgyzstan and Tajikistan. This year, VTB plans to expand the geography of the service to ten countries.
