Four bank-members of FinTech Association (FTA) (Qiwi Bank, AK BARS Bank, Tinkoff Bank and MTS-Bank) have successfully tested P2P (peer-to-peer) transactions.

According to the press service of the association, each bank tried the possibility to withdraw money from the sender’s account and transfer it to the recipient.

In particular, the banks launched their own software system, which allows connecting to Fast Payment System prototype, elaborated by FTA for executing instant payments and transfers, based on simple and comprehensible identifiers: telephone number, email.


The next stage of testing will be focused on the implementation of C2B (customer to business) transactions, including those, which imply a request from the recipient to the sender. Similar payments will be demanded in e-commerce, allowing the users to instantly pay for purchases from online shops.

“As soon as we finish refining the prototype and define the demands to the industrial version of Fast Payment System, we plan to immediately start the elaboration of client interface. We attach special importance to transforming this system into a truly convenient and quality instrument for end users to execute payments,” said Head of the Department on Development of Retail Payment Area at FTA Aleksey Rasskazov.

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