These are transfers between legal entities through the Faster Payments System. Previously, it was possible to make payments via the FPS only between individuals, or individuals and companies. B2B FPS can be called an analogue of bank transfers using details exchanged by legal entities and individual entrepreneurs.
However, unlike classic bank transfers, they are available 24/7 and work instantly. In addition, they are simpler, the transfer can be made in a couple of clicks: the counterparty sends a link or QR code for payment, the entrepreneur clicks on the link or scans the QR code and confirms the payment in the personal account of their bank.
In Modulbank, B2B transfers via the FPS are available to all individual entrepreneurs and legal entities, regardless of the connected tariff. The maximum commission for a transfer on any tariff will not exceed 19 rubles. However, there is a restriction from the FPS: you cannot transfer more than 1 million rubles in one payment, while there are no restrictions on the number of transfers per day and/or month.
“B2B transfers via the FPS became available on April 1. This is a big step for the development of the market. We are already accustomed to instant and round-the-clock transfers between individuals, now the same fast and comfortable transfers for settlements with counterparties are available to legal entities and individual entrepreneurs,” says Evgenia Vasilyeva, Product Director of Modulbank.
You can connect B2B transfers via the FPS in your bank's personal account.
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