“QPay” QR code based payment service

XacBank mobile application based QPay service allows users to create their own QR code, containing basic account information, which are: bank name, account holder name, and account number allowing users to share their QR code with others, as well as read others’ QR code with their XacBank application to complete transactions.

QPay service makes it easier for users as it eliminates the need to memorize or enter recipient’s account information. And you can still make transactions when you don’t have cash or your card with you, as long as you’re connected to the Internet.

Basic opportunities:

• Create QR code for any of your accounts, save and share your code with others;
• Read others’ QR code to make transactions much easier and faster;
• Make payments using QPay at any place with the QPay sign;
• Review all your payment history made through QPay service;
• Claim for VAT for purchases made;

Requirements to use QPay service:

• Internet banking service user;
• Have an Android and iPhone handset with latest XacBank application installed;
• Have an Internet connection;

Fees and commissions:

No additional fees will be charged for using QPay service itself. However, for transactions made to other banks’ QPay service user, existing interbank transaction fee of MNT300-500 will apply.

Registration for service:

If you are a customer of internet banking service, it is ready to use through the mobile application. However, if you are not a customer of internet banking service, you may sign up by visiting any XacBank branch.

How to install or update the XacBank APP on your mobile phone?