The Russian bank and mobile network operator have created a new payments system called RuRu that will begin with mobile and ecommerce, P2P transfers and mobile remittances. NFC services will follow “in the near future.”
RuRu is beginning operations by providing mobile commerce and ecommerce payments, P2P transfers and mobile remittances. In the near future, NFC-based payments “and other advanced technologies” will be added.
RuRu customers will be able to use the system to pay for telecoms services, utilities, fees for loans and payments to the state, railway and air tickets, tickets to entertainment events, paid content on the internet and, later, for goods in shops. The service will also include person-to-person funds transfers and remote money transfers.
RuRu customers nominate a default account which is automatically debited each time they make a purchase using the service. Transactions made via RuRu can currently be charged to their Beeline account and, in the future, customers will also be able to charge payments to accounts held at other mobile network operators. Purchases can also be charged to Visa and MasterCard branded cards as well as to a WebMoney account.
“Alfa-Bank sees good prospects in the development of mobile commerce and electronic payments and is already active in these markets, creating innovative products,” says Alfa-Bank’s Alexey Marey. “This is a modern payment instrument by which millions of people will have access to financial services.”