Since the launch of payment stickers in October 2023, VTB has issued more than 500 thousand debit and credit stickers
The VTB Bank team announced good news for users of branded payment stickers. The registration and use of payment stickers will be free for all VTB clients from April 1. As the press service emphasized, the bank made this decision after the message that the addition and use of «Mir» Russian banks in the Samsung Pay application will be unavailable from April 3.
In addition, to expand tools for non-cash payments, VTB plans to launch its own payment application «VTB Pay» during 2024.
Head of VTB Transactional Retail Business Department Rostislav Yanykin said:
External restrictions have become an additional incentive for banks to increase the pace of development of replacement payment solutions. Financial players are developing entire ecosystems of alternative payment instruments, primarily for contactless payments. This is payment via QR via SBP, using stickers and various Pay services. Therefore, Russian banks are generally ready for decisions like today’s. Additionally, to support our clients, from April 1, we decided to cancel the fee for stickers; this year we will launch our own payment application, VTB Pay, so that all bank clients have the opportunity to choose the most convenient method for making daily payments.