The Central Bank has decided on the date when systemically important banks should implement the functionality of automatic charges to online stores and online services in the fast payment system (FPS). This should happen from April 1 next year, it follows from the standards (Izvestia got acquainted with the document) of the National Payment System (NSPK).
The scenario of the operation SBP C2B “Account linking” became available in the so-called sandbox on July 22 this year. At the end of the summer, it became known that the NSPK (SBP clearing center) had tested this functionality with a number of banks. At the end of November, the date of implementation was also determined.
The option itself is quite simple and well known, for example, to users of applications for ordering a taxi. It is enough to give consent once to the automatic debiting of money in favor of a service or an online store, and you no longer need to enter card details – the money will be debited automatically. A similar story is with subscriptions, for example, to online cinemas or music services, for which you can set auto payments.
It is assumed that the convenience of the new functionality will be the ability to manage such subscriptions, including through the ability to unsubscribe.
“In the mobile application of the bank, the account of which the client has linked for payment, he will see all the subscriptions and will be able to control them, including withdrawing them if necessary,” the NSPK explained to Izvestia.
On condition of anonymity, some banks told Izvestia: there is a risk that they will not have time to implement the functionality by April 1 of next year. However, in official comments, all credit organizations that responded to Izvestia’s inquiries (VTB, MKB, Sovcombank, Otkrytie, Raiffeisenbank) assured that they would meet the deadline.
The press service of the Central Bank told Izvestia that systemically important banks have enough time to realize this opportunity.
Read more in the exclusive material from Izvestia:
“You can’t write off: banks will be obliged to launch auto payments in St. Petersburg from April 1, 2022”
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