The Mastercard payment system plans to change commissions for money transfers by phone number between individuals from April 23, which will depend on the connection of banks to its Mastercard Transfer Hub platform, RBC reports. Market sources believe that this will help compete with the Central Bank's Fast Payment System.

The Mastercard Transfer Hub platform allows you to transfer funds using identifiers such as a phone number, email address or social media ID. Previously, the payment system did not have zero or reduced fees for transfers to such identifiers. The platform stores all customer numbers linked to accounts, and funds can be transferred to Mastercard, Maestro or Visa cards.

Commissions for connecting and using the Mastercard Transfer Hub platform will become zero. In addition, the payment system has introduced commissions for transfers, which the recipient's bank will have to pay to the sender's bank. If the sender's bank is not connected to the platform, then the commission for the recipient's bank will be 0%. If the sender's bank is connected, but the recipient is not, then the latter will have to pay 0.2% of the transfer amount. Also, if both the recipient's bank and the sender's bank are connected to the platform, the commission will be 0.015%.

According to RBC's interlocutors, in this way Mastercard wants to start competing with the Fast Payment System. The Mastercard Transfer Hub platform was launched back in 2016, but is still not popular. One of the sources of the publication claims that in this way the payment system plans to make its platform more attractive to banks and motivate them to connect customer cards using a simple identifier. The interlocutor of RBC explained that card account holders will be able to connect to the system themselves, however, Mastercard plans that banks will indicate this clause in the agreement when issuing new cards.

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