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System of Fast Payments (SFP)

Product
Developers: Association of Financial those (AFT)
Date of the premiere of the system: April, 2018
Last Release Date: September, 2019
Branches: Financial services, investments and audit
Technology: Systems of remote banking

Content

The System of Fast Payments (SFP) will provide an opportunity to make money transfers by the phone number, e-mail or other simple identifiers.

2019

B cannot return to the system of fast payments money for goods. QR codes do not work

On September 10, 2019 it became known of absence in the System of Fast Payments (SFP) of a possibility of a refund for the goods paid for QR codes.

According to Vedomosti, a configuration which works in SBP since September 10, 2019, does not allow to cancel already perfect transactions, and therefore it cannot perform return of funds for customer accounts. It is connected, first of all, with the Russian legislation, but not with technical capabilities of a system, the representative "M. of Video Eldorado" explained to the newspaper.

It became known of absence in the System of Fast Payments (SFP) of a possibility of a refund for goods
It became known of absence in the System of Fast Payments (SFP) of a possibility of a refund for goods

The retailer hopes that regulating documents for returns through SBP will appear soon while the network is going to use the existing set refund methods for goods.

The technical director of Zolotaya Korona Andrey Nadtochy does not see in it a serious problem as shops can make return by other methods, and in the long term — to transfer money as separate transaction (so far the companies cannot send payments to SBP to individuals).

Representatives of the Central Bank of the Russian Federation and the National Payment Card System (NPCS) promised that to a mass project startup the option of a refund will appear. According to them, for this purpose it will not be required to make changes to regulations. To Vedomosti did not specify when the option is added to a system.

Function of return will be implemented "in the nearest future", its need was discussed with the National Payment Card System on start of the pilot, the representative of Toy Store where test payment by the QR code told the edition.

By September, 2019 the System of fast payments in "M. also test Video Eldorado", Wildberries, reStore and other retail chain stores.

To pay purchases using SBP, it is possible to scan the QR code of outlet through mobile application of bank, to enter the necessary amount in the application, further the bank will charge money off an account and will transfer to the account of shop. If the QR code dynamic, then the amount it is not necessary to enter manually.[1]

4 banks are in the lead in use of SBP

In leaders in use of SBP for August, 2019 4 banks: Alfa-Bank, VTB, Raiffeisen and Tinkoff. The main traffic is the share of them - it is tens of thousands of transactions daily. At Alfa-Bank on SBP for the first half a year of action of a system turnover made 7 billion rubles.

At the same time the board member of Alfa-Bank Pyatkov reported that the entering transfers on SBP fall. There is it because many banks enter the commission for transactions on the phone number. From large banks Alfa-Bank where the commission for SBP from the very beginning was 0 rubles just keeps.

The Central Bank registered terms for the system of fast payments

For systemically significant banks the term of connection to the System of Fast Payments (SFP) allowing to transfer instantly money on mobile phone number is set till October 1, 2019. For banks with the universal license - till October 1, 2020. The corresponding instruction of the Central Bank of Russia registered the Ministry of Justice of the Russian Federation. As declare in industry community, within the first half a year of work the system of fast payments proved to be effectively.

«
As earlier the Kommersant edition reported, the possibility of postponement of connection to the system of fast payments systemically of significant banks on the International financial congress was announced by the first deputy chairman of the Central Bank of Russia Olga Skorobogatova. "We discussed our regulation which specified previously these terms with the market. For systemically significant banks term there was specified on September 1. We find it possible this term to set on October 1 now", - Olga Skorobogatova said. According to her, to this term everything systemically the significant organizations should manage to be connected to a system.
»

As reported the Central Bank on August 19, in the instruction of bank which was registered by Ministry of Justice, the order of transfers in the system of fast payments for benefit of legal entities (C2B-transfers) is also defined. Besides, according to the document, since January 1, 2020 the Central Bank will give to banks an opportunity to utilize the intraday credit (VDK) for work in SBP in days off and holidays. From the same date the obligation of participating banks to use the SBP logo in the applications that will increase brand recognition at users is established by the document and also will help them to identify a system at accomplishment of transfer to SBP.

FinStream — in a bullet of the partner companies of SBP

The FinStream company specializing in development and integration of the bank software announced on August 12, 2019 readiness of connection of the System of Fast Payments (SFP) for the banks participating in this initiative of the Central Bank of the Russian Federation.

The SFP (System of Fast Payments) project is performed by JSC NSCP under the auspices of the Central Bank of the Russian Federation. It is the long-term program of development of payment technologies in Russia based on instant money transfers. In the long term a system will cover all financial infrastructure of the country, providing, thus, stability of the domestic banking market and its independence of external factors.

For August 12 a system safely started in an industrial scale, "fighting" transactions are performed and new services are connected, in particular, already there took place the first transaction on QR.

«
We already provide the ready-made solution implemented based on AnyWay Payment Hub, to the banks interested in connection to the System of Fast Payments. I will separately note that for August 12 not only transfers of C2C and M2M, but also C2B are implemented. When choosing this solution the bank receives the tool for the solution of specific business challenges on the principle "here and now" — Lev Gunitsky, the CEO of FinStream LLC told
»

Availability of money transfers using SBP to individuals clients "BPC Processing"

The BPC Processing company announced on August 6, 2019 completion of tests from the National Payment Card System on interaction at money transfer between individuals using the System of Fast Payments and offered the clients operational connection to this service.

The system of Fast payments started in January, 2019. For the beginning of August of 16 large banks and companies are participants of SBP. Individuals — clients of SBP participating banks can do transfers between the accounts and also transfer funds to clients of other banks connected to a system.

Until the end of 2019 it is going to give to users of SBP an opportunity to register payments for benefit of legal entities for goods and services both in retail stores, and on the Internet.

Availability of transfers through SBP to RSB Mobile

On July 18, 2019 the Bank Russian Standard announced start in the mobile application to RSB Mobile of C2C transfers through the System of fast payments. Now clients of Russian Standard will be able to exchange instant translations by the phone number with clients of SBP participating banks. Read more here.

Testing of interaction with "The platform of bank self-service"

The interaction tests (IT) of the hardware and software system (HSS) of the Platform of Bank Self-service service provided by Zolotaya Korona with AO of the NSCP which is operational payment and clearing center (OPKTs) of a System of fast payments of the Bank of Russia are complete. On July 8, 2019 reported about it in Zolotaya Korona. Read more here.

The first test transaction on the QR code is carried out

On June 6, 2019 the first test operation with the QR code using the System of Fast Payments (SFP) is performed. Purchase using the QR code passed through the Russian Standard Bank acting as the acquirer at technical support of Inpas company.

The first test transaction on the QR code was carried out through the System of fast payments by Russian Standard Bank
The first test transaction on the QR code was carried out through the System of fast payments by Russian Standard Bank

As the operator and the SBP settlement center the Bank of Russia acts, the National Payment Card System is operational, payment and clearing center of a system.

The technology of payment of goods and services using the QR code is very simple and reminds other services of contactless payments. The buyer selects payment through SBP, then scans the QR code using the mobile bank on the smartphone and confirms payment in the application. Money from the account of the individual arrives into the account of legal entity practically right after purchase commission.

According to the CEO of NSCP Vladimir Komlev, due to implementation of mechanics of the QR code users will receive one more option of convenient payment in outlets which diversifies client experience both the receiver, and the sender of payment.

«
Thanks to special, more profitable in comparison with other non-cash forms of calculation, to the commissions for trade and service companies c2b-transfers will also contribute to acquiring market development that in general will positively influence growth of a share of cashless payments in Russia, – he is sure.
»

The chairman of the board of Russian Standard Bank Alexander Samokhvalov added that emergence of new service considerably will reduce acquiring cost for trade and service companies, and to ordinary buyers will pay easily and conveniently purchases even if they have no bank card.

Banks pass to fast payments

Since February 28 in Russia the System of Fast Payments (SFP) using which individuals can transfer instantly each other money on mobile phone number - irrespective of banks where there are their accounts began to work. Already announced a number of SBP participating banks the beginning of commercial operation of a system.

SBP allows to make money transfers between clients of different banks by the simple identifier - the phone number, the account in social network, the e-mail address or the QR code. The Bank of Russia (the Central Bank, the Central Bank), operational payment clearing center - the National Payment Card System (NPCS) became operator of SBP.

The project is implemented by Association of Financial Those (AFT) with assistance of the Central Bank, Ak Bars bank, Alfa-Bank, VTB, Gazprombank, Raiffeisenbank, QIWI Bank, Tinkoff of Bank and other members of association.

One of the main advantages of the project - transfer speed. Transactions are performed instantly, 24/7, and in holidays too. The commission for clients is, but, according to in AFT, its size small. In the long term, according to the CEO of AFT Sergey Solonin, such payments can become free.

Trial operation of "The platform of bank self-service" of CFT in the SBP industrial environment

Zolotaya Korona gave technology support of PJSC Sovcombank and RNKO Payment Center (LLC) at connection to the System of Fast Payments (SFP). Within a pilot project of the Bank of Russia on start in operation of System of Fast Payments the hardware and software system of Zolotaya Korona "The platform of bank self-service" successfully underwent trial operation in the SBP industrial environment, reported TAdviser on February 8, 2019 in the CFT Group. Read more here.

Start of a system

On January 28, 2019 in Russia the system of fast payments (SFP) earned. Till February 28 banks will work with a limited number of clients, and with February 28 operation of a system will be performed according to the complete list of transactions for all clients of banks who join a system.

According to Interfax, a new system allows citizens to transfer funds by the phone number of the receiver even if the parties have accounts in different banks. In the long term SBP will allow to make 24/7 instant payments, including using the QR code or the mobile phone of the receiver of means.

The money transfer system between banks in 15 seconds earned in Russia
The money transfer system between banks in 15 seconds earned in Russia

For money transfer clients will have two methods. The first – to come into the section devoted to SBP in the banking application, to specify the amount and the phone number of the receiver. The second – to select the section "payments", and then to specify option "but to the phone number", to enter number and the amount. Both options save from need to remember the card number of the receiver. The term of implementation of transfer does not exceed 15 seconds. The first the project was supported by the following companies:

In addition to 12 participants of a pilot project of SBP, until the end of 2019 20 more credit institutions among which a half enters in top-50 on assets in Russia will join a system. Let's note that usually at first banks connect a part of clients within the test, and later scale innovations on all clients.

However  to SBP did not show yet willingness to join Sberbank. The largest Russian bank is a monopolist in the market of money transfers between natural persons. In 2018 Sberbank earned  47.2 billion rubles from transfers, and start of a system of the Central Bank will strike its income.[2]

Announcement of date of start of SPB

On January 24, 2019 it became known that the system of fast payments of SBP will be put in industrial production on January 28, 2019. It was said by Alla Bakina, the director of the department of a national payment system of the Bank of Russia during the special seminar for journalists.

As it was reported, at the first stage to clients of participating banks transfers between individuals of c2c and transfers between the accounts will be available to Me2Me. From the second half of 2019 it is planned that also transfers to the address of legal entities c2b will become available. For January, 2019 readiness of SBP of 100%.

Participants of a pilot project — Gazprombank, VTB, Alfa-Bank, Promsvyazbank, Ak Bars Bank, Raiffeisenbank, Tinkoff Bank, QIWI, SKB-Bank, Rosbank, Sovcombank and RNKO the Payment center will become the first banks starting SBP at the end of January, 2019.

Initially banks define the number of clients to whom transactions within a system will be available. By February 28, 2019 participating banks of a system should give such opportunity for all clients. The CEO of NSCP Vladimir Komlev told that for January, 2019 desire to join the project was expressed by even more than 40 banks and with them the corresponding work is conducted.

In 2019 the SBP rates for banks will make 0 rubles. Since 2020 from 0.5 to 3 rubles as from bank sender, and payee bank. In turn banks set rates for users.

Also the Bank of Russia presented the SBP logo, the application is submitted to Rospatent.[3]

2018

The system of fast payments will allow to make payments using the QR code

The system of fast payments will be able to carry out C2B-transfers both online, and offline using the QR code. As told the portal PLUSworld.ru[4] in Fintekh Association, start of money transfers within SBP between physical persons and legal entities is expected in the second half of 2019. The QR code will become one of methods of carrying out payment.

«
"During creation of SBP the foundation for implementation of the innovation products and services in the market of payment services through overlay when the third-party financial technical-companies are able to be integrated into the platform of fast payments is laid and to propose the payment solutions" — the Managing director of Fintekh Association Tatyana Zharkova told, having added that also the possibility of making payment by means of the QR code will be provided.
»

Testing

Partners of the Center of Financial Technologies of PJSC Sovcombank and RNKO Payment Center (LLC) held on April 25 and 26, 2018 testing of a prototype of the System of Fast Payments (SFP) of the Financial Technical Association. During testing about 80 test cases were carried out and all business operations implemented in a prototype of SBP are checked.

For testing in the shortest possible time prototypes applications Mobile bank were developed. Interaction of applications with a prototype of SBP was executed through a complex of CFT "The platform of bank self-service" in which support of all necessary functions is implemented.

Announcement of the concept

On April 26, 2018 the Association of Financial that together with participating banks and the Bank of Russia provided a system concept of Fast Payments (SBP) using which it will be possible to make a transfer in any place and at any time.

«
With transition of clients to digital-channels simple and fast solutions on carrying out daily banking activities are most demanded. The status of transfer will be transparent: transfers are instant, irrevocable and final, i.e. in seconds after sending payment the receiver will be able to use the received money, and the sender learns that money reached to destination. SBP also just will allow to perform online purchases and to perform settlement between legal entities — Vladimir Verkhoshinsky, the board member of VTB noted.
»

According to representatives of association, the payment can be made according to simple and clear details which always near at hand: by the phone number or to the e-mail address. The user can make transfer in the mobile bank or in other usual interface — whether it be the messenger, social network or the website of online store.

«
Elimination of interbank barriers, cost reduction of market participants and increase in convenience of financial services to users — key tasks of SBP — Olga Skorobogatova, the first deputy chairman of the Bank of Russia reported. — It is important to note a role of Association of Financial That in coordination of this project and in building of constructive dialogue between market participants and the Regulator.
»

On the Supervisory Board of AFT the decision on organizational and legal model of future System of Fast Payments where the role of operational, payment and clearing center will execute JSC NSCP was made.

«
When we speak about fast payments, instant, instant, to Real-time payments, we mean, first of all, access 24/7/365 for clients and an opportunity to perform transactions in one click. And does not matter what payment mechanism the person uses, confirmation of transaction happens instantly or within several seconds. The instantaneousness became a norm of a way of life of the consumer — Sergey Solonin, the CEO of the Financial technical Association explained.
»

It is planned that the System of Fast Payments will become available to users since 2019.

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