T-Bank has announced the creation of an alternative to the popular Apple Pay service. According to Sergey Khromov, Vice President of the company, iPhone owners will soon be able to use a new service for contactless payments.
In October 2024, the number of transactions through T-Bank's pay service increased fourfold compared to the same period last year. At the same time, the number of payments using bank cards decreased by 13%. In addition, the popularity of the "Buy Now, Pay Later" service began to grow — by 23%.
They managed without the West
Khromov said that after the departure of international payment systems in 2022, the company developed the T-Pay online service, which allows you to pay quickly and without entering card details on the Internet.
Then, customers have the option of contactless payment by phone on Android using a separate application. This was made possible by access to NFC modules provided by the Android operating system.
However, Apple does not provide access to NFC management, which makes implementing a similar technology for iPhone devices more difficult. Therefore, another simple solution was invented for "iPhones" owners first — payment stickers.
We are working on implementing a solution that is similar in essence to Apple Pay. <...> We are developing and testing our own product with other banks that also have a sufficiently large network of terminals. In the near future, we will provide our customers — iPhone owners — with a contactless payment option, similar to Apple Pay.
Cards are still popular among Russians, but many customers are still switching to online payments. According to Khromov, T-Pay already has more users and turnover than MirPay. In addition, the company has attracted customers who previously used Samsung Pay.
Plastic cards are a rudiment
Currently, more than six million cards are registered in the T-Pay service for Android, and their number is constantly increasing. According to the expert, the market will be divided between fast payment systems, biometrics, payment services, QR codes, cards and other tools.
Nevertheless, plastic cards are already a rudiment, and gradually they will give way to more technological solutions, such as bioacquiring.
Currently, approximately every tenth transaction is carried out both online and offline using alternative methods. By 2030, it is expected that cards will account for about 20% of the total volume of online payments, while the remaining 80% will be accounted for by QR codes, payment services and BNPL.
Earlier, T-Bank presented the Cyberstorm project — a platform designed to combat fraud in investments and financial pyramids. The main goal of the project is to force unscrupulous brokers to spend their time communicating with bots that can be mistaken for real clients interested in investing.
In addition, T-Bank also opened a free library of tools for developing AI applications.
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