Tinkoff launches Tinkoff Checkout, an online and offline payment service for legal entities.
Tinkoff Checkout will operate as a one-stop shop, enabling companies to take care of all of their online and offline financial needs in one place.
The new payment platform will combine both existing payment technologies of the Tinkoff ecosystem and new solutions, including services provided by CloudPayments, a leading Russian online payments company.
Tinkoff Checkout will enable businesses to perform a wide range of tasks such as the following via a single platform:
● Accept payments in an online store
● Introduce fiscal cash registers
● Turn a phone into a payment terminal
● Provide customers with a POS loan or an installment plan online
● Set up sales analytics
● Get accounting workstreams organized
● Tailor Internet acquiring to the company's needs using open APIs
Any company can use Tinkoff Checkout solutions, regardless of whether it has a current account with Tinkoff or not. Tinkoff Checkout does not exclusively cater to small businesses, as it is also designed with medium-sized and large businesses in mind.
Tinkoff Checkout services will include:
● Internet acquiring activated in one day, or three times faster than the market average
● Merchant acquiring;
● Paying for goods and services provided by a business through the Fast Payment System offline and online, and instalment sales directly from the payment form
● Recurring payments activated in one day, or five times faster than the market average
● An ability to accept payments from abroad
● Simplified connection to Apple Pay and Google Pay with just a couple of clicks on the online account page
● Connection of online cash registers
● CloudTips, a tipping and micropayments solution, designed by Tinkoff and CloudPayments
● An option of reserving cash for up to 30 days
● A unique secure deal solution for individuals and intermediary companies
● Payments via social media and messaging apps
● Payments to businesses via the Tinkoff super app
● An auto payment system
● Integration with cash management services and other banking solutions for businesses (overnight loans, insurance services, etc.)
Tinkoff Checkout customers will also get access to detailed analytics and the easiest-to-use sales launch solutions available on the market, which incorporate website builders. In addition, each customer will be assigned a personal manager whom they can contact by mobile at any time.
Sergey Khromov, Vice President, Head of Tinkoff Checkout, commented:
"Tinkoff Checkout is designed to address all business tasks simultaneously. For example, when companies go online, they may immediately need to set up a website, start accepting payments, issue receipts, hire couriers and arrange instant payments to those couriers, introduce a tipping solution, etc.
Tinkoff Checkout covers all of those scenarios, both online and offline. Our system provides companies with the most comprehensive range of payment services currently available on the market.
Tinkoff Checkout will be organized as a construction set, so companies are able to select a specific set of services and solutions tailored to their needs. Moreover, this can be done at a speed that is unprecedented for the Russian market. Some of our services can be activated within a day, compared with a market standard of three to five days. How did we achieve this? By applying state-of-the-art technologies used by Tinkoff to the corporate payments market.
In addition, we also offer a wide range of industry solutions for different business segments, including international customers.
Tinkoff Checkout provides a full range of services for businesses, including cash management services, merchant acquiring, in-house solutions for online cash registers and it is compliant with Law No. 54-FZ. Our offer is unrivaled on the market.
The launch of Checkout is a natural step for Tinkoff, given the growth of the e-commerce market, which has accelerated during the pandemic. In 2020, the turnover of Tinkoff's Internet acquiring business doubled, with the number of active merchants surging by more than 60%. In 2020, Tinkoff ranked in the world's top 100 acquirers for the first time. We expect the growth of the number of new clients of Tinkoff's payment services to accelerate three-fold in 2021."
Tinkoff's acquiring and payment services are currently used by more than 200,000 companies and individual entrepreneurs. Its partners include major Russian and international companies, such as online and offline retailers, online marketplaces, brokers and management companies, microfinance organizations, taxi firms, airlines, social media entrepreneurs and various other SMEs and large businesses.
Tinkoff is also a leading Russian bank in terms of the number of merchants connected to the Fast Payment System. Half of all the sales outlets accepting QR code payments via the Fast Payment System are partners of Tinkoff's Internet acquiring payment service.