Gazprombank’s new payment instrument claims to replace Apple Pay and Google Pay

19.03.2022 | 11:15 Home / News / Fintech /
#Gazprombank #GazpromPay
Gazprombank has developed GazpromPay payment system for making payments when using online stores. It works with the cards of all Russian banks and supports all devices that have access to Internet, CNews.ru reports.

The bank said in a statement that the system allows customers to link existing bank cards, as well as issue virtual cards for instant purchases. There will be no need to install additional apps to use the system.

The system, expected to debut on March 22, will be available for the cardholders of any banks, and being a client of Gazprombank is not necessary. The bank has applied for the registration of two trademarks at once- GazpromPay and GPay.

To make a payment through GazpromPay, you just need to select the use of GazpromPay on the payment page in the online store, register and link cards of any bank - existing or virtual. This process is performed once, afterwards you will only need to confirm the transaction when paying.

The bank described GazpromPay as a “wallet”, adding that it is available only in a few online stores yet, partners of Gazprombank.

The bank provided no further information as to whether the developers of GazpromPay plan to expand the scope of its use beyond virtual, so that customers can use it while paying in cafes and ordinary stores. “So far, this is a service that can be used to make payments in online stores,” Gazprombank told CNews.

It is noteworthy that Gazprombank announced the launch of its own payment system just a few days after other payment systems had fully or partially suspended their operations in Russia.

It is, first of all, Apple, which stopped selling its devices and introduced a number of restrictions on the operation of Apple Pay in Russia. It has been available in Russia since October 2016.

Earlier this March, Samsung also suspended shipments of devices to Russia, though, unlike Google and Google Pay, Samsung Pay service will continue to operate in Russia. This system is not yet available to Russians, although it had been working properly since 2017, before the sanctions.

Thus, GazpromPay, can technically replace Apple Pay for iPhone users, while Russians who prefer Android can switch to GazpromPay from Google Pay.

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