Visa payment system will launch money transferring service from card to card by phone number

Rozaliya Valeeva

UFA, 19 December 2018. /Bashinform News Agency, Rozaliya Valeeva/ translated by Tatiana Aksyutina/.

The Visa payment system is preparing a service in Russia that will allow transferring money from card to card, knowing only a phone number of the funds' recipient. The "Vedomosti" newspaper with reference to the General Director of Visa in Russia, Ekaterina Petelina, reports about this.

“Four banks are participating in the new system - VTB, Russian Standard, Tinkoff Bank, and Home Credit,” Petelina told the publication, having added that Russia ranked first in the world in terms of amount and quantity of money transfer from card to card according to the payment system.

The publication, with reference to the representatives of banks, informs that the transfer fares by telephone number will not differ from commissions for transfer by card number.

The Visa transfer system will become the fourth platform in Russia, which will allow sending money knowing only a mobile number of the recipient of funds. Sberbank and Mastercard have such systems already. The third is the system of fast payments from the Bank of Russia – it is still at the testing stage.

#visa #money transfers #phone number

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