Apart from the NFC-chipped Samsung smartphones that have Android Pay operating since late September 2016, in 2017 the new payment system will start working on all other Android smartphones with NFC chips, the source explained as cited by the Russian Izvestia newspaper.
According to the source, the project will be realized in partnership with several banks, including Alfa-Bank, B&N Bank, Raiffeisen Bank and Tinkoff Bank.
NFC technology among other functions turns the smartphone into a virtual bank card. In order to make a payment the owner should place the smartphone against the terminal, the money is then written off the owner’s bank card. The same technology is used in Visa PayWave and MasterCard PayPass payment systems. Android smartphones currently occupy the biggest share of the Russian smartphones market with 87 percent, according to the Euroset mobile retailer's data.