Compass Plus helps Credit Bank of Moscow join Faster Payment System

Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has provided Credit Bank of Moscow with a software solution to join Faster Payment System (FPS). FPS enables individuals to make instant transfers between FPS member banks 24/7, using only their mobile phone number.

As part of the project, FPS was integrated into the bank’s IT infrastructure to offer customers access to instant transfers via the Credit Bank of Moscow Online service.

“Credit Bank of Moscow always aims to enhance customer experience. The interbank transfers service by phone number is expected to promote this objective. Over the five years of partnership, the bank and Compass Plus have successfully implemented numerous projects and, in near future, we plan to start work on a subsequent, extensive project that will provide an opportunity to pay for goods and services,” said Konstantin Parmukhin, Head of Processing Division at Credit Bank of Moscow.

 “We are proud of our long-standing relationship with Credit Bank of Moscow and are delighted to provide the bank with our software for such an important and large-scale project as the FPS implementation,” said Alexey Osipov, Executive Vice President at Compass Plus. “We look forward to future joint projects to further strengthen our position and competitiveness.”