Some banks in Russia have decided to credit salaries to customers through the Fast Payment System through the mechanism of transfers from legal entities by phone number. The Central Bank plans to create a similar mechanism, but so far the decision on whether to launch it has not been made.
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Russian Standard Bank has already announced the activation of this service. Other credit institutions in the country have similar services, including Raiffeisenbank, Tinkoff Bank, and Dom.RF Bank. A money transfer scheme may look like this: the employer will send to his bank a list of persons for transferring wages with their phone numbers. After that, through the SPB, the money will be transferred to a credit institution, which the employee will define as the main one. This mechanism will help to simplify the payment process and will reduce costs, as well as reduce the cost of the translation itself.
At the same time, experts believe that when crediting salaries, therefore, there is a risk of making a mistake and transferring funds to another user. If the client who received the wrong amount refuses to return the money, the employer will have to bear the costs. In this case, there is a risk of delayed wages, which will entail administrative measures for legal entities.