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Magnit has launched Magnit Pay – its own analogue of Apple Pay and Google Pay
Magnit, which owns a large retail chain in Russia, announced the start of creating a super application that will incorporate various services and financial services. The first stage of the project was the launch of the Magnit Pay payment system.
Magnit Pay platform developed in partnership with VTB Group. We are talking about an analogue of contactless payment services Apple Pay, Google Pay and Samsung Pay.
The Magnit Pay service can be used by members of the retail loyalty program. To do this, you need to download the “Magnet” mobile application and issue a card for yourself – after that you can contactlessly pay for purchases at retail outlets of the network.
Magnit Pay now works on NFC-enabled devices. In the future, contactless payment will be implemented for smartphones without an NFC chip. In addition, it is planned to organize the possibility of money transfers between the participants of the “Magnet” loyalty program by phone number, as well as to provide support for payments for housing and communal services, communications, fines, etc. Customers of the retail network will also be able to withdraw cash from VTB ATMs using only a QR code.
“Magnit Pay will allow you to pay for purchases in any store, including online. After registering in the application, the buyer will receive advanced features – the issuance of a digital card on which it will be possible to hold up to 60 thousand. rubles and monthly spend up to 200 thousand. rubles of personal funds, as well as make transfers to other Russian cards “, – said in the message.
As for the mentioned superapplication, its functions will expand. There will be options for payment and ordering a taxi, cinema and theater tickets, the possibility of booking restaurants and ordering food delivery. In the future, its own service for the delivery of goods from all stores of the Magnit chain will become available.