MTS Launches Updated MTS Money Wallet App
MTS today reintroduced its MTS Money Wallet app to the market, which brings new functionality to offer its users a suite of financial services, all from one app.
From originally offering limited payment and money transfer functionality, MTS Money Wallet has significantly expanded its service offering to become a fully integrated financial platform. The updated version offers users the following:
- Expanded payment services: users can make payments from their e-wallet account, mobile account balances, a bank card issued by any Russian banks and now users can issue a prepaid NFC bank card inside the app (the last option currently works only with MTS Bank and for Android users).
- Higher availability: both individual and corporate users can use MTS Money Wallet. Now it is also available for non-MTS subscribers.
- Contactless payments: by creating a prepaid MTS Bank card (so far available only with MTS Bank
- and for Android users), users can now use the app to make contactless payments at POS terminals
- Online shopping: customers can pay for their goods online using MTS Money Wallet's one-click functionality
- Investment services: users can buy and sell mutual funds through the app
- Increased synchronization with MTS Bank: more seamless integration, including the ability to apply for other MTS Bank services such as credit cards through the app
- Expanded merchant base: payments can now be made with a broader range of merchants
MTS is continuously developing the MTS Money Wallet app to offer more functions. As this service develops further, users will be able to make payments on messenger apps, tie up their wallet account to Apple Pay and Samsung Pay and buy other investment products, including shares and bonds. From July 2017, the service will also open up to feature phone users, which will allow them to access the MTS Money Wallet services through USSD commands. At present, 45% of MTS' subscribers use feature phones, meaning the launch of USSD functionality will significantly expand the e-wallet customer base. MTS will continue to integrate the MTS Bank mobile app features inside its e-wallet.
By the end of 2017, payment terminals of different merchants in Russia - including shops, restaurants, taxi services and online stores - will be accepting 'MTS Money Wallet as one of payment system as well as they accept Visa, MasterCard, MIR cards. MTS Money Wallet users will be able to earn loyalty points and access exclusive offers from the Company's partners, since every user is automatically enrolled onto the MTS Bonus program.
MTS Money Wallet was originally launched in August 2016 as the MTS Money app. Approximately 35 million of MTS' subscribers currently use the operator's financial services, and six million of them are active mobile commerce users. The penetration number has been growing by 25% each year since 2014, creating significant growth potential for the penetration of MTS Money Wallet.
To start using MTS Money Wallet, simply download the app or sign-up at www.dengi.mts.ru.
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For further information, please contact in Moscow:
Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems PJSC
Tel: +7 495 223 2025
Learn more about MTS. Visit the official blog of the Investor Relations Department at www.mtsgsm.com/blog/
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Mobile TeleSystems PJSC ("MTS" - NYSE:MBT; MOEX:MTSS), the leading telecommunications group in Russia and the CIS, provides a range of mobile and fixed-line communications services. We serve about 110 million mobile subscribers in Russia, Ukraine, Armenia, Turkmenistan, and Belarus, and about 9 million customers of fixed-line services, that include fixed voice, broadband internet, and pay-TV. To keep pace with evolving customer demand, MTS is redefining what telecommunications services are by offering innovative products beyond its core network-related businesses in various tech segments, including Big Data, financial and banking services, internet of things, OTT, cloud computing, systems integration and e-commerce. We leverage our market-leading retail network as a platform for customer services and sales of devices and accessories. For more information, please visit: www.mtsgsm.com.
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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," and the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not undertake or intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically the Company's most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the severity and duration of current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of Russian, U.S. and other foreign government programs to restore liquidity and stimulate national and global economies, our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so, strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures, rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, governmental regulation of the telecommunications industries and other risks associated with operating in Russia and the CIS, volatility of stock price, financial risk management and future growth subject to risks.
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