Residents of all Russia were allowed to "turn" the smartphone into a cashless payment terminal

Residents throughout Russia were allowed to “turn” their smartphone into a cashless payment terminal. Sberbank, which

owns the technology and has launched full-scale testing.

As the bank writes in a press release, testingavailable in all regions of the country. The Tap on Phone application will allow you to use the technology. Sberbank believes that this decision will open up new opportunities for small business owners.

According to the bank, the technology is currently in greatest demand among fast food companies, retail stores, flower boutiques and taxis.

For now, contactless card payments using Tap On Phone technology are limited to an amount of one thousand rubles. But users of Google Pay, Apple Pay and other pay services can pay amounts of more than 1,000 rubles.

To start using Tap on Phone, you need todownload the application, sign a contract with the bank and activate the service. After that, the owner of the device can begin to accept card payments in a contactless way.