In the first half of 2021, the number of transfers made by Russians through the Fast Payment System (FPS), compared to the same period in 2020, tripled, and the amount of transactions increased 2.5 times. This was reported to “RG” in the press service of the Bank of Russia. According to the regulator’s forecasts, the trend will continue, including thanks to the new functionality of the system. The largest banks (top 10 by assets) confirmed this. Experts interviewed by “RG” are confident that over the next 2-3 years, the SBP will become the main channel for both transfers and payments in Russia.
SBP is a service that allows citizens to instantly (24/7) make interbank transfers using a mobile phone number or payments using a QR code to themselves or others.
The system can be accessed through the mobile applications of banks connected to the UPS, either from a smartphone or tablet, or from a computer. To make an instant transfer, in the mobile application of your credit organization, you need to select the transfer via UBS in the menu, the account from which you need to make the payment, indicate the recipient’s mobile phone number and the transfer amount.
In the case of a QR code, you need to point your smartphone camera at it and confirm payment for goods or services. Within a few seconds after the confirmation of the transaction by the payer, the money will be transferred and become available to the recipient. SBP was developed by the Bank of Russia and the National Payment Card System. It was put into commercial operation on January 28, 2019.
“To make a transfer through the SBP, only know the recipient’s phone number,” the official representatives of the regulator noted. In particular, the emergence of new and functional in the SBP. Thus, at present, credit institutions are implementing in their mobile applications the possibility of making transfers by the client from their accounts opened in other banks, as well as the “subscription” service (periodic payments). “
The largest banks (top 10 by assets) confirmed the trend.
“Over the year, the volume of monthly SBP transactions with GPB cards has grown 6.5 times, and the number – 16 times,” the press service of Gazprombank told RG.
The press service of the Credit Bank of Moscow noted that the number of MKB clients who made transfers using the Fast Payment System increased 5 times over the year.
Officials from Otkritie Bank clarified that in June 2021, compared to the same period in 2020, the number of outgoing SBP transfers made by Otkritie’s clients increased 10 times, the volume – 6 times. Representatives of credit institutions clarified: this is due to the fact that the service is free for transfers up to 100 thousand rubles, and is convenient for customers.
According to the forecasts of Roman Prokhorov, Chairman of the Board of the Financial Innovations Association, the amount of transactions through the SBP may increase 10 times or more in the foreseeable future due to the transfer of transfers to legal entities from traditional card acquiring to the Central Bank and NSPK system.
“Over the next 2-3 years, the SBP will become the main channel for both transfers and payments in our country,” says Alexei Chumakov, Deputy Chief Operating Officer of BCS World of Investments. We see that active work is underway to simplify the client path for UTS users. Note that UTS is increasingly used not only for transfers between bank accounts and payments for goods and services, but also, for example, for replenishing brokerage accounts – in BCS Investment world “this function has been implemented for a long time.”
Yegor Lopatin, senior analyst at the NKR rating agency, agrees that we should expect further growth in the penetration of SBP in the translation market. But, according to the expert, the degree of penetration will depend on the further tariff policy of the service.
Source: Российская Газета by rg.ru.
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