FPS to become available in online banking systems
9 March 2023
News
By 1 October 2023, large banks that have joined the Faster Payments System (FPS) should integrate this service into both their mobile applications and online banking systems. The relevant changes to the Bank of Russia Regulation ‘On the Bank of Russia Payment System’ have been registered by Russia’s Ministry of Justice.
Where banks with a universal licence lack the technical capacity to make the FPS accessible to their clients via their mobile apps, these banks should launch this service in their online banking systems. Clients will thus be able to use the FPS on different devices.
In addition, beginning on 1 April 2024, banks should enable money transfers via the FPS between legal entities.