O. Kondratenko: “We’re moving away from everything paper-based. Money is no exception—it’s becoming digital.”

The director of LWO participated in the press conference “Electronic Payments in the Banking System of the Republic of Belarus. Development Trends.”

The discussion focused on the opportunities and prospects of implementing the “Oplati” system and electronic money transactions. While banks today offer a wide range of services, most domestic transactions still rely on international payment systems.

Modern developments can help change this and, consequently, improve the national economy—such as the implementation of QR codes.

“Previously, we had utility bills and other paper invoices. Many no longer carry them. We pay bills electronically,” said Oleg Kondratenko, Director of LWO, during the press conference. “Transport tickets are also becoming obsolete. We scan a QR code—there’s your e-ticket. No need to print it. Soon, we won’t even need paper receipts at checkout. They’ll be digital. We’ll always be able to track what we bought and where we spent our money.”

“We’re moving away from everything paper-based. Money is no exception – it’s becoming digital. It’s faster, more flexible.”

The “Oplati” system is already operational. For example, in Gomel and Borisov, QR codes are used to pay for public transport.

“In some cases, we’ll save 0.5%, in others – 1% of the transaction amount. But when scaled to billions of transactions, this means millions of dollars saved for our national economy. It’s simple, easy, and convenient – while also boosting economic efficiency,” noted Oleg Kondratenko, member of the Digital Economy Development Council under the Council of Ministers of the Republic of Belarus.