Faster Payments System (FPS) is a service designed by Bank of Russia to allow individuals to make instant money transfers using their mobile phone number to any FPS member bank, and to pay for their purchases using QR codes.

File an application on our website, and we'll help you do the paperwork, run the necessary tests, and set up the payment processing software. It's free.

What makes FPS different from other payment processing systems?

In FPS, the transfer of funds from one account to another (even if there are no cards assigned to them) happens instantly, 24/7/365. Besides, one doesn't need to know the recipient's card/account number to make a transfer via FPS. A phone number is all that's needed to make a transfer, and paying for a purchase only requires a bank app installed on the buyer's smartphone.

The maximum amount per transaction in FPS is legally limited at 600,000 rubles, while participating banks may set additional limits according to their internal risk management policies.

Transaction security in FPS is ensured on all levels – the bank, Bank of Russia, and NSPK clearing house – using state-of-the-art security solutions. FPS meets all the data security standards applicable.

An FPS QR code is an image that contains all the necessary payment data such as bank details, amount due, and payment destination. The payment data is encrypted and cannot be read without special software installed on the smartphone.

Cases when purchased goods can be returned to the seller and the money refunded to the buyer are stipulated by Federal Law 'On Protection of Consumers' Rights'.

If a buyer returns an item paid for via FPS, the refund is also executed via FPS. The buyer applies for a refund with a purchase receipt stating the transaction number and phone number used to pay for the purchase. The seller uses these details to execute a 'reverse payment', and the money is wired to the buyer's account instantly.