Money Transfer by Phone Number Became Available in Russia
OREANDA-NEWS The system of fast payments, developed by the Central Bank of the Russian Federation, became available to all clients of participating banks from February, 28. It allows individuals to make instant transfers by phone number.
A month earlier, the system was launched in a test mode: since January 28, the system of fast payments operated for 11 banks and one non-credit financial institution. The new system was tested by such banks as VTB, Gazprombank, Alfa-Bank, Promsvyazbank, Raiffeisenbank and others.
The Central Bank has set a zero Commission for participating banks for 2019. Customers during this period will not have to pay for the transfer. In the future, the Central Bank and FAS will see to it that banks do not overcharge.
To date, only 4 out of 12 participants of the system have confirmed the launch. It's Tinkoff Bank, Promsvyazbank, ROSBANK and SKB-Bank. The rest will do this step by step, connecting one category of clients after another.
System of fast payments allows you to make transfers regardless of the banks in which the sender's and recipient's accounts are opened. In the second half of 2019, it is expected to launch payments using a QR code when paying for goods and services.
In the future, according to Nation News, the Central Bank and the Antimonopoly service promise to ensure that banks do not overcharge. At the moment the system is tested VTB, "Tinkoff Bank", "Gazprombank", "Alfa-Bank" and "Promsvyazbank", Bank "AK Bars", "Raiffeisenbank", "SKB-Bank", the service Qiwi, ROSBANK and "Payment center", which is the operator of the payment system "Golden Crown".
In the future, 98 more banks are planning to join the system, they have already submitted applications. The regulator believes that participation in the fast payment system should be mandatory for all significant market participants, and hopes that they will join it before the end of the year.