Sberbank Rossii : to help clients conducting transactions protect themselves from unexpected losses

January 15, 2018, Moscow - Sberbank has presented the updated version of the Guaranteed Settlements Service, an online tool to protect settlements between buyers and sellers of goods and services. The service guarantees that the seller will receive payment for a good or service, while the buyer will receive a good or service of the required quality.

'The updated service has a unique advantage: individuals can also use it now,' said Sergei Parshikov, Project Director at Sberbank. 'It is important that entrepreneurs do not have to get a certified electronic signature to use this service if the transaction amount does not exceed 100,000 roubles.'

Individuals will be able to conduct transactions worth any amount without using an electronic signature. They will receive one-off SMS passwords to confirm transactions steps. The commission fee may be split between the buyers and the seller in the updated version of the service, while earlier only the seller had to pay it.

'New functions have been added to the service based on the feedback from our users, which is very important to us. More than 1,000 companies have registered in the service since it was launched in February 2016, and transactions worth more than 552 mln roubles have been conducted,' said Yevgeny Kolbin, Director of Sberbank's Digital Corporate Bank Division.

The guaranteed settlements service is part of Sberbank's digital corporate platform. Clients can use the service in the Products and Services section of the Sberbank Business Online internet bank. Companies and individuals that are not Sberbank's clients can use the service by registering at the electronic platform escrow.sb2b.ru.

Sberbank AST acts as the operator and a guarantor of settlements between counterparties.