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- Combine calculations: Russians will be able to pay for SBP through telecom operators and insurers
Combine calculations: Russians will be able to pay for SBP through telecom operators and insurers
Russians will be able to pay for goods and services through the SBP in a larger number of services: not only banks, but also other market players will offer QR codes and links. We can talk, for example, about telecom operators, insurers, fintech companies, aggregators and marketplaces. The Central Bank has proposed to provide alternative participants with access to the system from November next year. However, to launch it, it is necessary to adopt a package of bills that is "stuck" in the State Duma — the second reading is planned in the spring of 2027, Anatoly Aksakov, head of the lower house committee on the financial market, told Izvestia. New players will expand the choice of payment methods and increase competition for store service, which should ultimately lead to an improvement in the quality of services.
Who else, besides banks, will be able to make payments through the SBP
The financial regulator has proposed opening access to the Fast Payment System (SBP) to companies without a banking license from November 22, 2027. The bill passed its first reading back in September 2024. Even then, it provided for the direct participation of such organizations in payment systems and the use of special accounts with the Central Bank.
The Bank of Russia described the work patterns in the SBP in a draft instruction at the end of October 2026 (Izvestia reviewed the document). There are two of them: participants with the right to independently transfer money will be able to carry out operations through a special account with the regulator. The rest will send orders through the operations center and receive a response about the result of the payment. The funds will be transferred by the bank or another authorized operator.
The Central Bank previously named insurers, brokers, MFIs, fintech companies and non-financial organizations among future payment service providers. Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, confirmed to Izvestia that this situation has not changed, and such participants are indeed planning to provide access to the system. But for this they will need to enter the register of the regulator. According to him, the bill establishes requirements for net assets, business reputation of managers and founders, as well as for compliance with anti-money laundering regulations.
Several large insurance companies are considering obtaining the status of a non-bank payment service provider and joining the SBP, Gleb Yakovlev, vice President of the All-Russian Union of Insurers (VSS), told the editorial board. For most firms, their own infrastructure is too expensive, so they will prefer a partnership with fintech services, he added.
SRO MiR was one of the first companies on the market to support this initiative, the press service of the association of microfinance organizations told the editorial board. The new opportunity is interesting for MFIs, especially for those with a large customer base, they noted.
Players who are close in capital and compliance with regulatory requirements for a small credit institution will be able to independently carry out calculations, according to the associate professor of the Department of Global Financial Markets and Fintech at the Russian University of Economics. Plekhanova Tatiana Belyanchikova. Among them, she identifies telecom operators, electronic money and large payment aggregators — the latter will be able to do without an acquiring bank and not share income with it. Ecosystems, retail, marketplaces, taxis, delivery, and telecom seeking to keep the payment flow within the services, as well as MFIs, insurers, and brokers, may show interest. According to the expert, banks can separate such businesses into separate structures, but only to initiate transfers.
Ekaterina Kosareva, managing partner of the VMT Consult agency, refers aggregators and electronic wallets included in the register of the Central Bank to potential participants. Freedom Global analyst Vladimir Chernov also calls Robokassa, PayKeeper and CloudPayments. The editorial board sent inquiries to the listed companies, the All-Russian Union of Insurers, NAUFOR (association of stock market participants) and telecom operators.
The package of the main draft law and the accompanying one, which amends 25 federal laws, is planned to be considered in the second reading in the spring of 2027, Anatoly Aksakov said.
Izvestia sent a request to the Central Bank.
Why did they come back to the idea now
The progress of the bills was slowed down due to comments from departments and market participants, the deputy said. One of the main complaints is that the requirements for non—bank payment service providers are more lenient than for banks. This increases the risk of data leaks, he explained.
There were also questions about protection against money laundering and fraud. According to Anatoly Aksakov, the text does not specify which operations of new players are subject to mandatory control. In addition, the bank may not receive the necessary information from the intermediary, for example, about the sender's device, which will complicate the identification of suspicious transfers. Therefore, it is proposed to establish for such companies the same strict anti-money laundering requirements as for banks, and to extend to them the rules of the "Know your Customer" platform, through which credit organizations receive information about risks from the Central Bank, the legislator said.
The banking community is also afraid of unequal competition conditions, the deputy continued. In addition, the Association of Banks of Russia pointed out the risks of fraud and loss of money for 18 months, when new members would be allowed to work without bringing their activities in line with the requirements.
The government and a number of departments proposed clarifying the boundaries of companies' responsibilities, the special account regime, and differentiating between aggregating transfers and accepting payments from users, Anatoly Aksakov added. The amendments are coordinated by a working group with the participation of the State Duma, the Central Bank, the Ministry of Finance and the market.
The main, accompanying and tax bills are needed to launch, the parliamentarian stressed. The Ministry of Finance and the State Duma Committee on Budget and Taxes insist on the need for the latter. It has not been entered yet. The discussion stage is currently underway — the regulator accepts comments on the draft until November 12, 2026. If the final version is approved, the main innovations are planned to be introduced on November 22, 2027, Anatoly Aksakov recalled.
During the waiting period for the second reading (two years), there were more transactions through the SBP, and individual banks started thinking about their own payment systems, Ekaterina Kosareva noted. According to the Central Bank, in 2025, the number of enterprises accepting such payments increased by 36%, to 3 million. As of November 2026, 223 banks are participating in the system, and the accumulated number of operations has reached about 60 billion by 323 trillion rubles.
What will change for consumers
It will be possible to pay for goods through the SBP in a larger number of services: not only banks, but also other participants will be able to offer QR codes and links, explained deputy Anatoly Aksakov. According to him, this can make small purchases, payments for services and subscriptions more convenient.
It will be possible to place an order and pay for it in the usual application, said Igor Dodonov, an analyst at Finam Financial Group. If the service only transmits the order, the money will still be debited from the bank account, said Tatiana Belyanchikova from the Russian University of Economics. Over time, options with electronic wallets may appear, says Ekaterina Kosareva from VMT Consult.
Stores will be able to assign payment acceptance to a bank or a specialized company. For example, you can connect this service to a fintech service, and leave your checking account with a credit institution, Anatoly Aksakov explained. New participants will not have to build infrastructure from scratch, Igor Dodonov added. According to him, banks will have to compete more actively for business accounts: reduce tariffs or improve service.
The cost of accepting payments also includes connection, support, refunds and reconciliation of receipts, Anatoly Aksakov noted. Specialized companies will be able to offer individual services cheaper than a full banking package, he believes.
According to Dmitry Gritskevich, Head of Banking and Financial Market Analysis at PSB, the elimination of bank intermediation will speed up and reduce the cost of settlements, and the inclusion of fintech companies, MFIs and brokers will increase competition and encourage the creation of convenient services.
However, the project does not oblige to reduce commissions, Tatiana Belyanchikova emphasized. Tariffs will depend on the number of new players, reporting costs, compliance with the requirements of the Central Bank and the reserve of money in the special account.
According to Gleb Yakovlev from the VSS, insurers want to integrate payment into their applications and websites. For example, the client will be able to buy a policy or make a regular contribution on cumulative insurance from his account at any bank — without going to the banking application and manually entering the details. Other possible services include quick refunds via the SBP by phone number, payment for deductibles, technical assistance on the road, medical services under the LCA and car repairs.
New business opportunities are associated with the automation of settlements with agents and brokers, as well as billing and payment acceptance for cargo, property and liability insurance, the union representative added.
What to do in case of failures
If the service only transmits the order, the bank is responsible for executing the transfer to the client, and the intermediary is responsible to the financial organization for his mistakes. This scheme is provided for by the 2024 version of the bill, explained Vladimir Chernov from Freedom Global. If there is a failure, he advises contacting the credit institution where the money came from and notifying the service. According to the law, the bank must be informed about the debit without the client's consent immediately, at the latest the next day after receiving the notification of the operation.
If the money was transferred by a non-bank supplier himself, the claim should be sent to him, the expert added. The bill provides for his responsibility to the company or sole proprietor with whom the contract is concluded.
A delay is also possible when checking for fraud: according to the current rules, the bank can suspend the transfer for two days, Ekaterina Kosareva from VMT Consult reminded.
Thus, the admission of new participants expands the choice of payment methods through the SBP and increases competition for store service. For buyers, convenience consists of the simplicity and accessibility of payment, and for businesses, the cost of accepting payments and the speed of payments.
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