Tinkoff Bank has launched a joint initiative with Sberbank to allow customers to make P2P money transfers using a mobile number, as part of Tinkoff Bank’s drive to expand the payment options available to its customers.
The service has been rolled out in the bank’s mobile apps and the personal online accounts of Moscow-based customers, and will be available to all customers across Russia by the end of July.
Tinkoff pioneered the use of just mobile numbers for transfers among its own customers, and today this is one of the bank’s most popular payment methods. The initiative with Sberbank expands the potential audience for the service to millions of new users.
“Tinkoff was one of the first in the Russian market to offer this option within our own banking system. Now, alongside our partner Sberbank, we are scaling this service and taking it to the next level,” said Anatoly Makeshin, Director of Payment Systems and Deputy Chairman of Tinkoff Bank.
“New features not only improve the user experience for our customers, but also further advance the development of the country’s payment infrastructure.”
Tinkoff Bank is also actively involved in the development of a rapid payment system (SBP), which will allow customers to make instant transfers using other identifiers (such as email address, TIN, SNILS, social network accounts, etc) anywhere and at any time, regardless of the beneficiary bank.
In June, Tinkoff Bank CEO Oliver Hughes told RBI that Tinkoff was on track to report net income growth per year in the 20- 40% range to the end of fiscal 2019.
In 2017, Tinkoff cemented its position as the number two credit card player in Russia with a market share of 11.6%, acquiring 1.8 million new credit card customers.