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Faster Payments System – New Form of Payment for Mobile Application in Russia

A new form of payment for Russian markets was added to the PayiQ mobile application – the Faster Payments System (FPS). Now passenger can top up a transport card, as well as purchase a mobile ticket, using the most inexpensive payment method for the operator and the city. The bank’s commission for the FPS for the public transport sector is only 0.4%.

This new form of payment will allow passengers to top up a transport card or purchase a mobile ticket with a couple of clicks on their smartphone and literally on the go. The money from the buyer’s account will be transferred to the account of the operator or carrier almost immediately after the purchase. When client selects FPS as the form of payment, the bank’s mobile application installed on the smartphone is called by the system to make the payment.

PayiQ was the first in the industry to implement FPS among mobile application providers, offering the most efficient solution to pay for transportation services.

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