# QuickPay QR > Source: https://docs.barcoder.ai/docs/standards/quickpay-qr > research date 2026-05-29 · extracted at 2026-10-06 > Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards Specifications: - [QuickPay — Bank of Cyprus](https://www.bankofcyprus.com/en-gb/Personal/Digital_Channels/digital-banking/QuickPay/) - [Bank of Cyprus QuickPay QR launch — Cyprus Mail](https://cyprus-mail.com/2024/12/12/bank-of-cyprus-launches-quickpay-qr-code-for-seamless-mobile-transactions) ## Overview **QuickPay QR** is **Bank of Cyprus's mobile-phone-based QR-code payment service**, launched **12 December 2024** [1][1], [2][2], [Cyprus report](https://docs.barcoder.ai/docs/payments/CY). The platform enables BoC Mobile App users to **send and receive payments quickly and securely using only their mobile phones** — **without sharing additional information such as phone numbers**. Users open the **QuickPay section** in the app, select **'QR Code'**, generate their personal QR, and share it for others to scan + transfer payments. Transactions complete **within seconds** with **immediate trader notification of successful payments**. The structural distinction: **QuickPay QR is single-bank-issued (BoC) rather than bank-consortium-coordinated** — making it structurally similar to [Bit](https://docs.barcoder.ai/docs/standards/bit) (IL, Bank Hapoalim) and [Tikkie QR](https://docs.barcoder.ai/docs/standards/tikkie-qr) (NL, ABN AMRO) but smaller-scale appropriate to Cyprus's ~1.2M population. **Particularly practical for self-employed people** — they can serve customers + receive payment via QuickPay QR using only their smartphone, **no POS hardware required**. Users can **download QR as PDF and print for display** at premises for customer scanning. Cyprus's broader payment landscape historically favoured **traditional card payments + bank transfers** with limited national-instant-payment-or-QR-scheme adoption [[stripe-cy]]; QuickPay QR represents Bank of Cyprus's bid to lead Cyprus's QR-payment-modernisation. ## History **Background — Cypriot payment landscape** [Cyprus report](https://docs.barcoder.ai/docs/payments/CY): - **Bank of Cyprus (BoC)** — largest Cypriot commercial bank. - Euro-denominated (Cyprus is eurozone member). - Cyprus historically favoured card payments + bank transfers. **12 December 2024 — QuickPay QR launches** [2][2]: - Bank of Cyprus launches QuickPay QR. - BoC Mobile App integration. - Mobile-phone-based seamless transactions. **Service for self-employed people** [2][2]: - Particularly suited for self-employed merchants. - No POS hardware required. ## Technical specification QuickPay QR is **Bank of Cyprus's BoC Mobile App QR-payment service** [1][1], [2][2]: | Layer | Description | |---|---| | **Operator** | **Bank of Cyprus (BoC)** | | **Launch** | **12 December 2024** | | **Currency** | EUR | | **Channels** | BoC Mobile App | | **Identifier** | Personal QR (within QuickPay section) | | **Settlement** | Seconds | | **Trader notification** | Immediate | | **QR download** | PDF for printing | | **Account type** | Personal only (not for corporate accounts) | **No phone-number sharing** [2][2]: - Privacy-friendly: customer scans QR; no need to share contact details. **Self-employed use case** [2][2]: - Smartphone-only acceptance. - No POS hardware investment. ## Use cases **P2P transfers** [1][1]: Send/receive via QR. **Self-employed merchant acceptance** [2][2]: Cardinal innovative use — no POS hardware. **Print QR for premises display** [2][2]: PDF download for physical signage. **Friend-to-friend payment** [2][2]: No phone number exchange required. ## Implementations & ecosystem **Operator**: **Bank of Cyprus (BoC)**. **Other Cypriot banks**: Hellenic Bank, RCB Bank, Eurobank Cyprus, Astrobank — competing or developing similar. **Cypriot context**: Euro-denominated; limited national-QR scheme prior. ## Fun facts - **December 2024 launch**: Recent. - **Single-bank (BoC) product**: Similar to Bit IL (Hapoalim), Tikkie NL (ABN AMRO). - **Self-employed-focused**: Specific use-case marketing. - **Print-PDF QR for premises**: Physical-signage feature. - **No phone-number sharing**: Privacy-preserving design. - **Personal-account-only**: Not for corporate; consumer + small-merchant focus. - **Cyprus has been laggard on QR-payment adoption**: BoC's QuickPay aims to change this. ## Comparison | Feature | QuickPay QR (CY) | [Bit](https://docs.barcoder.ai/docs/standards/bit) (IL) | [Tikkie QR](https://docs.barcoder.ai/docs/standards/tikkie-qr) (NL) | [Bizum QR](https://docs.barcoder.ai/docs/standards/bizum-qr) (ES) | [Payme](https://docs.barcoder.ai/docs/standards/payme) (HK) | |---|---|---|---|---|---| | Operator | Bank of Cyprus | Bank Hapoalim | ABN AMRO | Bizum SL (bank consortium) | HSBC HK | | Launch | **Dec 2024** | ~2017 | 2016 | 2022 (QR) | Feb 2017 | | Single-bank model | Yes | Yes | Yes | No (consortium) | Yes | | Self-employed-focused | **Yes (explicit)** | Yes | Yes | Yes | Yes | | Population reach | New | 90 % P2P | 157M txns/yr | 24M | 3.3M (44% HK adults) | ## Status **Active, recently launched** [1][1], [2][2]: - **Bank of Cyprus operator** since 12 December 2024. - **BoC Mobile App integration**. - **Self-employed-friendly + smartphone-only acceptance**. ## Sources [1]: https://www.bankofcyprus.com/en-gb/Personal/Digital_Channels/digital-banking/QuickPay/ "QuickPay — Bank of Cyprus" [2]: https://cyprus-mail.com/2024/12/12/bank-of-cyprus-launches-quickpay-qr-code-for-seamless-mobile-transactions "QuickPay QR launch — Cyprus Mail" [stripe-cy]: https://stripe.com/resources/more/payments-in-cyprus "Accepting payments in Cyprus — Stripe" - [1] [QuickPay — Bank of Cyprus][1] - [2] [QuickPay QR launch — Cyprus Mail][2] - [Cyprus report](https://docs.barcoder.ai/docs/payments/CY) `reports/countries/CY-cyprus.md` ## Deployments Found in the following country reports (grep across `reports/countries/`): - **CY** — [CY-cyprus.md](https://docs.barcoder.ai/docs/payments/CY) - **WS** — [WS-samoa.md](https://docs.barcoder.ai/docs/payments/WS)