Russian Banks Launched Transfers by Phone Number

Russian banks launched money transfers from legal entities to citizens by phone number as part of the quick payment system, RIA News reported.

Since May 2020, residents of the Russian Federation can transfer up to 100,000 rubles per month within the system for free. You need only to know the name of a credit institution where a client has an account and the phone number associated with this account. The transaction takes several seconds. It is specified that the system allows transferring funds by mobile number, as well as pay for goods and services through a QR code.

Ru-Main, 02.07.2020

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