Russian network VK adds cashless money transfer option for users

MOSCOW, Sep 20 (PRIME) -- Russian popular social network VKontakte has introduced an option of cashless money remittances between its users, the network’s owner, Internet giant Mail.Ru Group said Tuesday in a statement.

“Money can be transferred in messages using a banking card. There is no need in the recipient’s card number: the recipient decides where the money should be credited to,” the statement read.

Remittances can be made from cards MasterCard, Maestro and Visa issued by Russian banks and received on the same cards issued in Russia and other countries, including in Azerbaijan, Armenia, Belarus, Georgia and a number of European countries.

Transfers can be made in Russian rubles from 100 to 75,000 rubles. A commission charged on Visa cards is 1% of the remitted amount, but the minimum of 40 rubles, and no commission is charged on MasterCard and Maestro by the end of 2016.

If a card of the recipient is tied to an account in a foreign currency, the amount is converted into rubles under the exchange rate of the bank-issuer.

The recipient can accept the remittance during five days, in case of no actions the money will be returned to the sender’s card.

(64.9173 rubles – U.S. $1)

End