VTB Bank and the Russian Export Center (REC) launched a b2b payment service through SBP. The transaction moved from REC JSC’s account at VTB to the recipient’s account at an external bank. The possibility of transfers between legal entities and entrepreneurs through the SBP appeared in the spring of 2024.
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According to the VTB press service, the company became the first major client of the bank to use payments through this system. The Central Bank introduced changes to the regulation “On the payment system of the Bank of Russia” in January. Thanks to this, a new functionality has appeared that allows legal entities and individual entrepreneurs to carry out online settlements with their counterparties through the SBP.
VTB notes that funds are credited to the account almost instantly. According to the bank’s Deputy Prime Minister Alexander Botsiev, b2b transactions through the SBP will greatly expand the capabilities of companies in the field of agreements with partners and counterparties.
The bank added that transactions with any other legal entity or corporate client are carried out in real time, completely online.
PSB was the first to master the new functionality after the innovations approved by the Central Bank. The bank began carrying out transactions in b2b format through the Faster Payments System in March.
In April, “business-to-business” transfers through the SBP appeared in Modulbank.
Author:
Natalia Gormaleva
Source: RB
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