MWC 2019, Barcelona. MegaFon, the leading Russian integrated telecommunications operator and international payment system Mastercard have signed a memorandum of cooperation on the development of financial services and launched the Credit via Mobile service – a mobile financial marketplace for subscribers
Today, MegaFon and Mastercard combine efforts to make financial services even more accessible, convenient and native for smartphone users. Partners signed the Memorandum of cooperation on the development of mobile financial services for subscribers and presented the Credit via Mobile service during Mobile World Congress in Barcelona. Mastercard Digital Enablement Service (MDES) will ensure the safety and security of the payments.
Payments for goods and services via smartphones are becoming more popular. Experts consider Russia as a global leader in adopting contactless and mobile payments. Today, over 15 mln MegaFon subscribers make purchases via smartphones and over 2 mln of the operator’s clients use MegaFon Bank mobile application based on their Mastercard account. Credit via Mobile is the financial marketplace in a smartphone factually launching the new chapter in the evolution of mobile banking.
Through this innovative service MegaFon customers – cardholders of virtual and plastic Mastercard cards issued by MegaFon Bank – are the first in Russia to gain direct access to banking services provided by the largest financial institutions in Russia. Customers can apply for a loan online with just a few clicks on a smartphone, instantly receive funds to their mobile phone account, and make purchases. There is no need to visit a bank office – now convenient financial services are available from the smartphone screen.
New service will be available via MegaFon Bank’s mobile application. Individual credit offer will be generated based on the Big Data analysis of client’s needs, funds will be credited directly to the mobile number account. Subscribers will be able to make payments anywhere they want using a virtual Mastercard card linked to Apple Pay, Google Pay or Samsung Pay.
Users can create a virtual Mastercard bank card issued online in MegaFon Bank mobile application. The user’s mobile phone account becomes a bank account with all the supplemental benefits: interest over the funds balance, cashback, and others. If necessary, the client can always apply for a traditional plastic card in any MegaFon office.
First customers of MegaFon financial marketplace have already received personalized credit offers via MegaFon Bank application as part of the soft launch period. The loan programs are individualized and based on the needs analysis using Big Data. By year’s end up to 10 financial institutions will become project partners and all MegaFon customers will gain access to the financial marketplace. Raiffeisenbank, Ak Bars Bank and Gazprombank are the first financial institutions who signed agreements to provide loan offers at the initial stage of the product launch.
“MegaFon is an integrated telecommunication service operator that provides customers with the best services in the interface between traditional banking and innovative telecommunications. We continue developing our line of financial products, enabling our customers to use their smartphones as a payment tool in the most effective and advantageous ways,” said Yan Kukhalsky, MegaFon's Director of New Businesses and Partnerships. “Mobile commerce and P2P money transfers have become a common practice for the modern MegaFon customer. Today, in collaboration with Mastercard, we are happy to become the first among Russian mobile operators to present our customers with a unique service to receive fast and favorable credit offers from leading financial organizations directly to their mobile phone accounts.”
“Mastercard digital technologies help mobile operators build a long-term strategy for the development of mobile financial services and create innovative, safe and relevant offers for millions of consumers in Russian. Our long-standing cooperation with MegaFon is a good example of payment and telecom technologies interplay. It started with the launch of plastic cards in 2016, continued with virtual pre-paid cards in 2018, and now includes new credit opportunities. Such products provide people in Russia with more accessible modern financial services and technologies, which make completing everyday tasks, ensuring financial stability and managing personal or family budgets easier, more convenient and safer,” said Dmitry Tartyshev, Business Development Director Mastercard Russia.
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