EASYPAYMENT FROM MTS
Friday, October 08, 2010
We have recently launched in Russia a new service called EasyPayment. The subscribers can now pay for different services, both MTS’s and other companies’ using their mobiles by transferring funds from either their bank or personal accounts with MTS. EasyPayment allows payments for municipal services, cable TV, landline, Internet and many others with low to no commission.
Each transaction takes 1-2 minutes with the minimum transaction amount equal to RUB 10 and the maximum to RUB 15,000 for payments from a MTS personal account and up to RUB 30,000 for payments using a bank account.
The user interface for payments allows a greater degree of flexibility as subscribers can now use special applications developed for handsets on the Windows Mobile, Symbian and iPhone operating systems. The Android version is currently being developed. The applications can be downloaded following receipt of a SMS message containing a link to the download page. iPhone users can find the application in the Apple App Store. The subscribers also can make payments using a web-portal or the USSD-service*.
For EasyPayment, MTS partnered with the Bank of Moscow, 1st Processing Bank, a supplier of e-commerce solutions Intervale and the QIWI payment system.
EasyPayment is an improvement from a previous service MTS-Pay that was launched in October 2008 and allowed subscribers to only transfer funds using their bank accounts. In June 2010 we won the prestigious Global Telecoms Business Innovation Award in the “Consumer bank-card innovation” for MTS-Pay.
We consider the mobile payment market in Russia to have good growth prospects on the back of strong existing demand. Given the country’s high wireless penetration and the relatively low credit card penetration and indeed use, services such as MTS’ EasyPayment that allow to use mobile accounts to make payments could play an important part in the development of mobile commerce in Russia. Our projects in this field include money transfers (launched in April 2010); as well as the partnership with the Moscow Metro allowing passengers to buy tickets using their mobiles at the turnstiles utilizing the NFC** technology (tentative launch at the end of 2010).
* USSD - Unstructured Supplementary Service Data.
** NFC - Near Field Communication.