The Central Bank of Russia is preparing a replacement for Google Pay and Apple Pay

Modern contactless payment platformsbecoming more developed and popular, therefore, the Central Bank of Russia decided to extend import substitution in this high-tech market. In the near future, owners of smartphones equipped with an NFC module and already actively using Apple and Google services will be able to enjoy the development of domestic engineers.

In developing the basic principles of the new serviceThe National Payment Card System (NSPK) and the main banks of Russia took part. Currently, on the initiative of the Central Bank of the Russian Federation, a system of quick payments (SBP) has been created in the country using the method of payment by QR code. There is also a Rostelecom technique that allows transactions to be carried out after identification by person.

29 fast payment systems have already taken partbanks and two payment systems, and Tinkoff Bank and Otkrytie were involved in the development of a new payment system. Next year, the system will be tested in test mode.

However, for integration into smartphones,working on the Google and Apple operating systems, it seems that approval with these companies will be required. With a positive outcome of negotiations with technology giants, Russians will receive another alternative method of contactless payment using smartphones equipped with an NFC module.

Thus, Russian citizens even morewill be integrated into modern payment systems that allow for quick and safe contactless payments, by the amount of which Russia is one of the three world leaders.

Source: RBC