KAZAN, 23 Sep — PRIME. Russians have become noticeably more active in using the Faster Payments System (FPS) to pay for goods and services: by the end of August, since the beginning of the year, the number of transactions has increased tenfold, said Alla Bakina, director of the national payment system department of the Central Bank of the Russian Federation.
The Central Bank recorded the largest increase in cash in circulation since March
“In August, we had two P2P transfers to the SBP for one interbank card transfer, that is, such an advantage is already in favor of the fast payment tool. And since the beginning of 2022, the average number of C2B transactions has grown by an order of magnitude. If in January this number was slightly more than 3.5 million, then in August it is already 38 million,” she said during the 19th International Banking Forum “Banks of Russia – XXI Century”.
Fast payment system is a service that allows you to make interbank transfers using your mobile phone number around the clock and any day. Commissions for such transfers are low or non-existent.
Thus, transfers between individuals in the amount of up to 100 thousand rubles per month are carried out free of charge, and for transfers in the amount of more than 100 thousand rubles per month, the commission will be no more than 0.5% of the transfer amount, but no more than 1.5 thousand rubles per transfer. The daily limit of banks on transfers from bank accounts cannot be less than 150 thousand rubles.
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