Sberbank and MasterCard release Russia’s first one-touch contactless payment acceptance solution for smartphones

Maria Nikolova

The mobile application Sberbank TapOnPhone lets retailers accept payment from bank cards and NFC devices by making a single tap on a smartphone.

Sberbank and international payment system MasterCard announce the launch of a pilot version of the Sberbank TapOnPhone application. Russian retailers will now be able to accept bank card and smart device payments by making a single tap on their smartphones. Sberbank is the acquirer of the project and is also assisting in the development of the app. Retail points at Sberbank’s Agile Home office in Moscow will be the first to test out this innovative solution.

Sberbank TapOnPhone is intended for small and medium-sized businesses that operate in the services sector (taxi companies, cafes, restaurants, couriers, etc.). The technology works on any NFC-capable smartphone running Android 6.0 and later. To set up the service, business owners should enter into an acquiring contract with Sberbank and install the mobile app on their devices. A single-use code is sent to the phone number indicated in the contract to activate the app.

All operations carried out via the app are secured by MasterCard’s contactless payment protocol. To accept a payment, the merchant opens the app and then enters the payment amount. Next the customer pays for the item or service by holding their MasterCard contactless card or other NFC-enabled device (smartphone, smart watch, bracelet, etc.) running Apple Pay, Google Pay or Samsung Pay over the merchant’s ‘POS smartphone’. If the purchase amount is higher than 1,000 roubles and a bank card is used, the customer may be asked to provide an electronic signature. The app allows receipts to be sent to customers via email and refunds can be issued.

Svetlana Kirsanova, Deputy Chairman of the Executive Board of Sberbank and Head of the Retail Business Block:

“Sberbank is Russia’s biggest issuer of MasterCard cards and the country’s largest acquirer. We want to provide new contactless payment opportunities to both individuals and legal entities. That’s why employees of the retail points in one of Sberbank’s offices will be the first to test out the new application. This will help our partners at MasterCard perfect the app to offer the best customer experience – for consumers and merchants.”

Mikhail Fedoseyev, Vice President for Business Development and Digital Payments in Rapidly Developing European Markets at MasterCard:

“MasterCard’s Russian operations are focused on creating the best payment innovations. Sberbank TapOnPhone provides more opportunities to small and medium-sized businesses and encourages the development of cashless payment in Russia. All parties will benefit from the app. Businesspeople will be able to save money that would otherwise be spent on expensive POS devices and speed up the launch of acquiring services. Banks will be able to cut costs on supplying, repairing and managing terminals, and avoid spending time on installing terminals and training people to use them. And MasterCard cardholders will be able to shop at places that previously didn’t accept cards.”

Read this next

Crypto Insider lists DeFiChain’s DFI token amid growing popularity

Bitcoin-based DeFi platform DeFiChain announced the listing of its native DFI token on, one of the world’s leading cryptocurrency exchanges.

Digital Assets

Binance in discussions with Japan regulators to relaunch operations

Binance, the world’s largest crypto exchange by traded volume, is reportedly seeking a license to operate in Japan after its exit from the country four years ago.

Digital Assets

OKX Chain integrates .crypto domains to simplify wallet transactions

Unstoppable Domains, a company building Blockchain domain names, has entered a partnership with EVM and IBC compatible chain OKC (OKX Chain). This collaboration will grant OKC’s users the ability to simplify deposits and withdrawals within the regulated fiat-focused crypto-asset exchange.

Retail FX, Technology

MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms

In a surprising (or-not-so-surprising) move, Apple has removed MetaTrader 4 and MetaTrader 5 from its App Store in a huge blow for the leading FX trading platform provider.

Retail FX

Pepperstone adds analytics and automated trading tools free of charge

“We look forward to bringing significant value to Pepperstone traders and making a real, positive impact in their daily trading habits. We are excited to welcome them on board.”

Retail FX

FP Markets wins Best Global Value Broker for 4th consecutive year at the 2022 Global Forex Awards

“We greatly appreciate the continued international recognition as at FP Markets we pride ourselves on these attributes and these prestigious awards are testament to the hard work from our global team to always provide our clients with the ultimate trading experience.”

Inside View

How to Engage Your Customer at Every Stage of Their Journey

As many as 89% of successful businesses say that providing assistive customer experiences is critical to their growth. That’s because a mere 5% increase in customer retention can boost profits by 25% to 95%.

Industry News

CFTC fines Chinese firms Chinatex and COFCO $720,000 for wash trading

Chinatex traders engaged in wash trading in order to liquidate a long position in the account of an affiliated company and re-establish the position in its own account, to the ultimate benefit of its parent company, COFCO.

Industry News

US-based operation of Brazilian broker XP fined $500,000 for recordkeeping failures

“Proper recordkeeping is vital to protecting our markets and market participants from fraud and manipulation. This case serves as another example of the Commission’s intent to vigorously enforce the recordkeeping obligations of its registrants.”