Tinkoff Bank: First adopters of Faster Payments System in Russia

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Tinkoff Bank: First adopters of Faster Payments System in Russia

  • Tinkoff Bank become an early adopter of the Bank of Russia’s Faster Payments System (FPS) as it continues to build out its payment services ecosystem
  • Customers can now make and accept instant payments to and from accounts at any FPS member bank using just a mobile phone number
  • All P2P payments from debit cards during the launch period will be free of charge
  • The Bank of Russia introduced FPS year to allow instant P2P payments using mobile phone numbers
  • The system expanded to allow individuals to pay companies for goods and services in the second half of 2019