A new way to withdraw cash is introduced in Russia
Russians can get the opportunity to withdraw money from bank cards directly at the supermarket cash desks. Several banks, including the largest Sberbank of Russia, are already testing the technical capabilities of the service.
Why do banks need this?
First of all, this is a significant savings in working with cash. Banks will be able to independently process transactions without sending them to payment systems. So far, only Sberbank customers will be able to use the service, if it is launched by Sberbank, but we must remember that Sberbank serves more than 50% of the country's stores and supermarkets and issued about 50% of all bank cards held by the population.
Apparently, the service will work according to this scheme - the buyer pays for the goods with a credit card and at the same time informs the cashier about his intention to receive a specific amount in cash. Then the buyer enters his PIN-code, after which he makes a purchase and receives his money.
However, experts are already worried whether this initiative of Sberbank will become an excellent tool in the hands of “shadow people”, who need to cash and legalize funds.
Why do banks need this?
First of all, this is a significant savings in working with cash. Banks will be able to independently process transactions without sending them to payment systems. So far, only Sberbank customers will be able to use the service, if it is launched by Sberbank, but we must remember that Sberbank serves more than 50% of the country's stores and supermarkets and issued about 50% of all bank cards held by the population.
Apparently, the service will work according to this scheme - the buyer pays for the goods with a credit card and at the same time informs the cashier about his intention to receive a specific amount in cash. Then the buyer enters his PIN-code, after which he makes a purchase and receives his money.
However, experts are already worried whether this initiative of Sberbank will become an excellent tool in the hands of “shadow people”, who need to cash and legalize funds.
Information