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.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.