Tinkoff launches instant payment serviceTinkoff Pay. With its help, customers will be able to quickly, easily, conveniently and securely pay for goods and services online in online stores and offline stores without entering card details. Tinkoff Pay will combine the best payment technologies and fintech solutions of the Tinkoff ecosystem for both customers and merchants.
Tinkoff Pay can be used by both clients of the Tinkoff ecosystem who have a mobile application installed, and in the near future, clients of other banks - they will be able to link cards to the service.
Sergey Khromov, Tinkoff Vice President, Head of Tinkoff Cashier:
“Under the hood of the service, we decided to collect all the bestproducts and technologies from the Tinkoff ecosystem: different combinations of cashback from the bank and partners, subscriptions, Tinkoff Target, installments and shared payments, etc. There will be integration with the superapp, cards from other banks, the Tinkoff ID service, which we will also launch for partners soon. That is, everything that we are used to in our lives will be available from Tinkoff Pay. We decided to do fintech magic around payments.”
Tinkoff Pay technologies:
• instant payments online and offline;
• cashback combinations for Tinkoff clients and non-clients;
• payment in installments or through the Shares service;
• payment for clients of any Russian banks;
• biometric solutions for authorization and instant payment;
• solutions for non-customers of Tinkoff;
• integration with Tinkoff superapp;
• auto payments and regular payments;
• management of all subscriptions in one window;
• customization of privileges, cashbacks, etc. for the client;
• "Safe deal" for purchases on classified sites;
• integration with the Wallet application;
• p2p transfers and more.
What will happen at the launch of Tinkoff Pay
At the start, payments via Tinkoff Pay will be available online and soon offline for Tinkoff customers. Other service technologies will be launched in stages during 2022-23.
Tinkoff Pay allows you to quickly and securelypay for purchases on websites and in mobile applications of online stores - from a smartphone and from a computer. At the start, payment is available in more than 30,000 Tinkoff Cashier partner online stores, including your favorite online stores, large chain retailers, marketplaces, etc.
Pros of Tinkoff Pay for online stores:
• higher share of successful payments on the Internet;
• convenient service for customers - their loyalty is higher;
• works in the application and on the site;
• easy to connect;
• will be available to any clients of Russian banks in the future;
• cashback and loyalty programs for customers.
How to buy online
To purchase from a smartphone, you need to click on the buttonTinkoff Pay on the payment page. After confirming the operation (if necessary), the money will be debited from the Tinkoff account. If there are several accounts, you can choose the most convenient option with a suitable balance.
In the future, it will be possible to set which account to use by default depending on the store category.
You can also pay for purchases using Tinkoff Pay from a computer. To do this, you will need to scan a QR code with your smartphone, which will transfer the buyer to the Tinkoff application to confirm the payment.
Customers will be credited with a personalizedcashback immediately at the time of purchase - the buyer will see the "Pay" button and the amount of cashback that he will receive for it. At the start of Tinkoff Pay, the same cashback is available as when paying with a card.
When shopping with Tinkoff Pay, userswill be able to receive not only the basic cashback from Tinkoff in various categories, but also other combinations of cashback - increased cashback from partners, manufacturers of specific goods, a merchant where payment is made, etc.
For non-Tinkoff customers, when making payments via Tinkoff Pay, cashback will also be available in the future.
Installments and BNPL-service Shares
At the time of payment, the user will be able to decide −whether to pay the whole amount at once or pay in installments. By clicking on the button, he will be able to get acquainted with the payment schedule, if he decides to pay in installments or in installments. Equity payment will be carried out in integration with the payment by installments service Shares and Tinkoff Credit Broker.
Tinkoff Pay knows the buyer
Tinkoff Pay will save with consentuser all the data for a quick and most convenient purchase - for example, possible delivery addresses, full name, phone number, etc. - this data will automatically appear in the interface when placing an order. The user will only need to click the "Pay" button.
Also, buyers can pay for purchases inliterally with one click, without going to the application and QR codes - when authorizing in stores through the Tinkoff ID service (to be launched later in 2022).
Manage subscriptions in one window
Users using Tinkoff Pay will be able to automatically pay for and manage subscriptions in their favorite stores and services, as well as in the Tinkoff super app.
The application will show where the client hassubscription to Tinkoff Pay, he will be able to manage these subscriptions in one window, in the Tinkoff Pay section - cancel, pause, if he went on vacation, etc., subscribe in popular stores (by clicking "I want to subscribe").
Tinkoff Pay will integrate biometricTinkoff technologies - in the future, customers will be able to log in online and pay for purchases offline using face recognition, etc. (with the need for additional confirmation through the superapp for large purchases).
With the help of Tinkoff Pay, it will be possible to make contactless payments offline by linking a card or account of any Russian bank to it.
This solution will also allow you to personalizepurchase settings - Tinkoff Pay will pull up the payment source that will give the user the most privileges and bonuses for this payment, depending on the loyalty program - regardless of which bank card is used (for example, co-brands between banks and network retailers, etc. ).
Integration with "Wallet"
Tinkoff Pay is already integrated into the applicationWallet (part of the Tinkoff ecosystem). With the "Wallet" for payment, it is enough to show only a bonus or discount card at the checkout, and the payment will be processed automatically. It will also be possible to log in to the Wallet using the Tinkoff ID service.
Tinkoff Pay will also be used in servicesA secure transaction, thus allowing you to maximize the security of payment on classified sites (such as Avito, Yula, etc.), while maintaining the convenience and simplicity of the purchase process.
Sergey Khromov, Tinkoff Vice President, Head of Tinkoff Cashier:
“Russia is one of the world leaders in terms of convenience andthe development of non-cash payments and alternative payment methods. And we, in turn, have a long development horizon for Tinkoff Pay - we plan to make the best and most convenient payment service in the country and even in the world. Therefore, we will be glad to various services and partners who want to develop fintech and implement Tinkoff Pay.”
Source: Tinkoff press release