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Launch of Tinkoff Mobile Wallet

22 Nov 2013 16:00

RNS Number : 7521T
TCS Group Holding PLC
22 November 2013
 



 

"TINKOFF CREDIT SYSTEMS" BANK

Launch of Tinkoff Mobile Wallet

Moscow, Russia - 22 November 2013. TCS Group Holding PLC (TCS LI) (the "Company"), including "Tinkoff Credit Systems" Bank ("TCS Bank"), Russia's leading provider of online retail financial services, today announces the market launch of Tinkoff Mobile Wallet on 1 December 2013.

· Tinkoff Mobile Wallet to tap into the most rapidly developing segment of financial services in Russia - the fast growing market for electronic payments

· Tinkoff Mobile Wallet will establish a new, high volume customer acquisition channel for the Company and present cross selling opportunities for its financial and insurance products

· Tinkoff Mobile Wallet users will join over 3.5 million existing TCS Bank customers

· TCS Bank to leverage its existing high-tech payment platform and expertise to launch Tinkoff Mobile Wallet with minimal additional cost outlays

· Tinkoff Mobile Wallet offers mobile users an easy and transparent payment option on any Android and iOS device with zero transaction fees

· Enables person-to-person transfers through Facebook and Vkontakte and payments in any online store which accepts Mastercard around the world

· Provides a convenient option to pay for a wide range of services, including mobile top-up, utility bills, administrative payments and other payments

· Users can make payments without opening a bank account and can top up through a number of options, including payment terminals, bank accounts or bank cards

Following the launch of Tinkoff Mobile Wallet mobile users in Russia will have an opportunity to make person-to-person money transfers and payments in any internet store which accepts Mastercard by installing TCS Bank's new mobile application on their mobile phone. The bank will receive interchange and merchant discount fees for nearly all transactions. There is no need for customers to have a bank account or obtain a bank card.

Commenting on today's announcement, Oliver Hughes, CEO of TCS Bank, said: "We are very excited that we can now offer Russian consumers our new, innovative mobile payments solution. Tinkoff Mobile Wallet has unique terms with zero transaction fees and with no need to open a bank account. We see enormous growth opportunities in the Russian electronic payments space, and plan to tap into this opportunity. Tinkoff Mobile Wallet is a differentiated, convenient and light touch service which will create a new way of attracting customers to the TCS bank and insurance businesses."

Tinkoff Mobile Wallet meets the needs of sophisticated users by enabling customers to transfer money through such user identifiers as their mobile number (MSISDN), e-mail, social network accounts in Vkontakte and Facebook. Customers can use their registered accounts in social networks to make person-to-person money transfers to all of their contacts through Tinkoff Mobile Wallet.

TCS Bank is working on having its Tinkoff Mobile Wallet application pre-installed on mobile devices.

For enquiries:

 

"Tinkoff Credit Systems" Bank

Elena Shushunova, PR department

+ 7(495) 648 1000 (ext. 2244), +7 (916) 804 3276

e.shushunova@tcsbank.ru

 

 

FTI Consulting London

Larisa Millings

+44 (0)20 7269 7153

 

FTI Consulting Moscow

Maria Shiryaevskaya

+7 495 795 06 23

 

About TCS Bank

 

TCS Bank is an innovative provider of online retail financial services operating in Russia through a high-tech branchless platform. In order to support its branchless platform, TCS Bank has also developed a "smart courier" network covering almost 600 cities and towns in Russia which allows next day delivery to many customers.

 

Since its launch in 2007 by Mr. Oleg Tinkov, one of the best known Russian entrepreneurs with a long track record of creating successful businesses, TCS Bank has grown into a leader in the Russian credit card market, with the third largest credit card loan portfolio and a market share of 7.7% based on non-delinquent receivables (according to Central Bank of Russia ("CBR") data, as of 1 July 2013). As of 30 June 2013 TCS Bank had issued over 3.5 million credit cards.

 

In addition to a market-leading credit card offering, TCS Bank has developed a successful online retail deposits programme and currently has been expanding to bring additional innovative online products and services to Russian consumers, including mobile financial services, payment solutions and insurance.

 

As of 30 June 2013, TCS Bank's total assets amounted to US$2,419 million, loans and advances to customers stood at US$1,952 million and customer accounts (deposits) amounted to US$977 million. In the six months ended 30 June 2013, TCS Bank generated a net profit of US$79 million and net interest income of US$394 million.

 

TCS Bank is well capitalised with the CBR N1 capital adequacy ratio at 17.1% as of 1 July 2013, while under international Basel III guidelines, its total capital ratio was 22.0% and Tier 1 capital ratio was 15.0% as of 30 June 2013.

 

The Company's shares, in the form of Global Depositary Receipts, have been trading on the London Stock Exchange since October 2013.

 

Forward-looking statements

 

Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company or TCS Bank. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might", the negative of such terms or other similar expressions. The Company and TCS Bank wish to caution you that these statements are only predictions and that actual events or results may differ materially. The Company and TCS Bank do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company or TCS Bank, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries TCS Bank operates in, as well as many other risks specifically related to the Company, TCS Bank and their respective operations.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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