The Bank of Russia is working on the possibility of creating a full-fledged replacement for Apple Pay and Google Pay payment applications. This was reported in Kommersant.
According to the source, First Deputy Chairman of the Central Bank of Russia Olga Skorobogatova said that the agency is actively discussing with Russian banks the creation of a unified payment application for smartphones. The source reports that this proposal was made by “one of the major card issuers of international payment systems.”
The essence of this project is that the user can link to the payment service not only his MIR card, but also Visa/MasterCard. In addition, after the departure of many foreign companies, a “zoo” of payment systems and applications has formed in Russia, while not a single software is universal. For example, Apple Pay and Google Pay do not actually work in the Russian Federation, Samsung Pay allows you to link only MIR, SberPay and TinkoffPay cards work on websites, but they do not work in offline stores. In addition, existing applications are not available on all smartphones: SberPay and Mir Pay do not work on iPhones.
A separate problem is the fact that the infrastructure in the country is not ready to accept payments via QR codes, which means that NFC payment must be implemented in the future product.
Market participants had an idea to simply take the ready-made SBPey service and bring it to the state of “everything for everyone”. However, in this case, there are also concerns: it can be blocked and all the work will go down the drain. At the same time, it is quite possible to technically improve SBPey technically in order to introduce the ability to pay with a card, and not just from a bank account. At the checkout, the buyer will be able to choose how he will pay.
It is worth noting that the idea of creating a completely new universal payment application is also being considered. True, it is not yet clear how the Central Bank and partners are going to bypass Apple’s restrictions on the use of NFC – after all, now contactless payments on the iPhone can only be made through Apple Pay.