MegaFon launches mobile money service

Russia’s MegaFon has launched a mobile payment service application.

MegaFon Money will allow the operator’s subscribers and those of MTS and Beeline to transfer money, pay for internet, mobile communications, rent and utility bills.

Transfers can be debited to either a subscriber’s bank account or credit card and the receiver can choose to credit the money with a mobile operator account, VISA or Mastercard or receive cash at a Unistream outlet. Transfers will be subject to a fee of 1.99%

The service was developed by MegaLabs, the operator’s innovation and value-added services arm.

“We are pleased to present to the citizens of Russia another means of money transfer. MegaFon Money will be a simple and user-friendly service allowing money transfer or payment for services anywhere, any time. The new service will be well protected against any unauthorised intrusion,” said Denis Zyryanov, director of financial services at MegaLabs.

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