MTS Launches MTS Money Wallet, Unique Service to Combine All Payment Solutions

Mobile TeleSystems PJSC (MTS), the leading telecommunications provider in Russia and the CIS, launches MTS Money Wallet, that enables users to get an easy "one-click" access to MTS's financial services and be rewarded with bonuses and loyalty points. The new service combines all payments tools on one platform - electronic wallet, bank cards, and customers' mobile account balances. Not just a payment system, MTS Money Wallet is a hub for all of MTS's financial services. 

Vasyl Latsanych, Vice President for Strategy and Marketing at MTS, believes the launch of MTS Money Wallet marks the transformation of the smartphone into a functional and versatile financial tool. "Today we are entering into a new era of mobile and financial services. We created the unified ecosystem, which would become a convenient, transparent, and secure alternative for cash and bank cards. The initial functions included in the service only mark the beginning of our journey. We will combine all possible payment solutions with leading loyalty programs. We believe that cash and cards will become redundant in near future. All we'll need forcomfortable communications and financial management is a smartphone".

MTS clients got an option to make payments and money transfers from the e-wallet through a smartphone or MTS website. There is no need to open a bank account or issue a bank card. Users are able to access the MTS Money Wallet through the iOS and Android apps or the MTS Money Wallet website. The service is available for both individuals and businesses.

Once signed up to the service, MTS Money Wallet customers will have access to their platform, where they can add payment cards to their wallet. Customers will then be able to make purchases online and transfer funds from MTS Money Wallet without having to re-enter their bank details each time. The user-friendly interface also makes it quick and easy to check wallet balances. The issuer of electronic money is MTS Bank.

All MTS Money Wallet users are automatically enrolled onto the MTS Bonus program, which offers loyalty points and access to exclusive offers and discounts.

The service will be updated every month taking into account feedback from customers. 

Extra advantages of MTS Money Wallet:

• CONVIENIENT MONEY TRANSFERS: the user can simply indicate the phone number of the money recipient and choose the account (either mobile account balances or MTS e-wallet)

• SIMPLIFIED IDENTIFICATION AND INCREASED LIMITS ON TRANSACTIONS: MTS subscribers are identified automatically and get an immediate access to money transfers and payments on websites of foreign companies with the limits for a single transaction up to 60,000 rubles or 200,000 robles (for customers of MTS Bank)

MTS Money Wallet will be enhanced with the following functions during 2017:

• SERVICE AVAILABILITY FOR ALL CLIENTS: both MTS and non-MTS customers will be able to use all the functions of the service except payments through mobile account balances

• PUBLIC TRANSPORT AND STORES: contactless payments through either the app or USSD/SMS.

• MTS MONEY BUTTON on online merchants to allow one-click purchases from devices connected to the service.

• INTEGRATION OF MTS MONEY INTO MOBILE BANKING: clients of MTS Bank will be able to monitor their bank cards, make money transfer, and get bank products

• MIGRATION OF 'EASY PAYMENT' CUSTOMERS to MTS Money Wallet.

MTS Money Wallet has evolved from the MTS Money app, which launched in August 2016 and allowed customers to make in-store contactless payments. The service is developed in partnership with MTS Bank and Runet Business Systems.

Source: Mobile TeleSystems media announcement