The system of fast payments, a competitor of transfers from card to card, while it will be free

2024 Author: Seth Attwood | [email protected]. Last modified: 2023-12-16 15:55

The Bank of Russia has determined the tariffs for banks for transfers in the Fast Payments System (FPS), which will replace card transfers. A pleasant surprise was the decision to zero tariffs for the period until the end of 2019 - at first, the operator's services are free.

Then the tariffs will be 50 kopecks each for the receiving bank and the sending bank for transfers up to 1,000 rubles, two rubles each for amounts from 1,000 to 3,000, and three rubles each for transfers from 6,000 to 600,000 (the threshold for transactions within the system).

As reported to "RG" in the Bank of Russia, SBP will be ready for launch by the end of January 2019, now 12 banks are testing it, the experiment is going well. Within the framework of the new system, it will be possible to make an instant transfer to a client of another bank by his phone number, and then by other simple identifiers.

The Central Bank offered banks rather loyal tariffs, experts say. "In fact, the total cost of a write-off / credit operation will not exceed 6 rubles for large transfers and 12 rubles in those exceptional cases when the initiator of the payment requires its return," says Vyacheslav Putilovsky, junior director for bank ratings at Expert RA. commercial transfer systems for individuals can take 3-4% of the amount. What exactly the banks participating in the system will offer to their clients will depend on the level of competition, which is now very high in this market."

The Central Bank does not require banks to join the fast payment platform (as, for example, in the case of another national platform - by remote identification), but expects that all banks will connect to it. "The grace period enables banks to reduce costs on their side and will stimulate faster connection to the SBP," a representative of the Bank of Russia told RG. "This, in turn, will allow citizens to receive instant transfer services next year at minimal rates."

The operator's commission for transferring 600 thousand rubles from bank to bank will be 0, 001%

The grace period and rather attractive tariffs, combined with the potential competitive advantages from joining the SBP - all this may cause high interest in it, says Mikhail Polukhin, Deputy Director of the ACRA Financial Institutions Ratings Group.

“Banks that have joined the SBP will be able to provide their clients with the opportunity to simplify settlements to third-party credit institutions, increase their speed and reduce costs,” he explains. “This is relevant for both large and small banks.” The value of commissions on transactions within the SBP will be set by banks individually, but it can be assumed that the cost of transactions within the system will be low, potentially leading to a decrease in the cost of transfers for clients, Polukhin expects. According to him, the popularity of the system will also be affected by how it will meet the expectations of potential participants in terms of the list of operations, security, stability, and so on.

According to the available data, the system will first be admitted to the members of the FinTech Association, and then everyone else will be admitted. FinTech, which developed the SBP under the auspices of the Central Bank, includes Sberbank, VTB, Gazprombank, Alfa-Bank, Otkritie, Raiffeisenbank, Ak Bars, Tinkoff Bank; a number of banks - associated participants can also act as pioneers of the project.