Sberbank Business Online wins international PayTech Awards

Sep 14, 2020

The Corporate Subscription service via Sberbank Business Online, which features ecosystem services for enterprises, has won Best SME Payments Initiative of the international PayTech Awards.

The service enables entrepreneurs to provide their customers with an opportunity to subscribe to regular payments for services and products without any necessary routine. When connecting to Corporate Subscription, a supplier company will offer its customers an easy and convenient method of payments via Sberbank Business Online. A corporate buyer can enable a digital subscription to the supplier services in several minutes. In the future, the payment for provided services will be made automatically, the funds will be debited from the buyer’s account at Sberbank in required terms. The bank will notify the buyer about the transaction, and the supplier will get a quick notification on receiving money via Fintech API.

The service is convenient for product and service suppliers and enables them to automate settlements without sending additional reminders and invoices. The number of overdue payments will drop, and the income will be easier to forecast. Since the launch of the Corporate Subscription service, more than 16 service suppliers have joined it.

An entity just needs to address a personal manager or request a callback on the bank’s website to connect the service.

Anna Loevskaya, Managing Director of the Digital Corporate Bank Division, Sberbank:

“We develop Sberbank Business Online for our online banking to let entrepreneurs to develop their businesses in the long-term, minimizing expenses and increasing business efficiency besides resolving transaction and operational issues. When developing services for business, we rely on the most popular and innovative e-commerce practices. Thanks to the Corporate Subscription service that operates under the similar principles like online subscription to Okko or Spotify, for example, mutual payments between companies become easier, faster, and more reliable. International recognition shows that this service matches the best world practices.”

PayTech Awards was founded by FinTech Futures, a British publishing platform specialized in fintech news and analysis. Companies and individuals receive PayTech Awards for distinguished IT achievements and innovations in the payment industry for the third year in a row. Banks, financial and payment institutions, IT companies, software providers, teams and individuals take part in PayTech.