“The Board of Directors of the Bank of Russia decided to reset its tariffs for banks in the Quick Payment System (SBP) on transfers between individuals by June 30, 2022,” the report says.

First Deputy Chairman of the Bank of Russia Olga Skorobogatova said that for the Central Bank "it is extremely important to provide citizens with the opportunity to conveniently, safely and universally transfer funds to each other."

From January 1, 2020, the Central Bank began to charge banks a fee for using SBP. This system allows you to instantly transfer money by mobile phone number.