Kirill Tsarev oversees the development of payment technologies and solutions at Sberbank. In this aspect, the institution sets the bar high both nationally and internationally. Sber continues to expand the range of supported payment options, and the number of transactions conducted by its clients keeps increasing. This article will highlight some of the latest achievements and include Tsarev’s comments on them.
Growing Popularity of Biometric Payments with a Smile
Sber has introduced a payment technology that stands out from the rest. Clients submit their biometrics to the bank and enable payments with a smile in its mobile app. In brick-and-mortar stores, customers simply approach the terminal, ensuring their face is clearly visible. The system recognizes their identity, matches their biometrics, and deducts money from the specified account.
In many interviews and public speeches, Tsarev has emphasized the potential of this technology and acknowledged that people embrace it enthusiastically.
In 2024, Sber’s clients paid for purchases with a smile more than 25 million times. Since the beginning of the year, the number of monthly transactions has increased 14-fold—from almost 500,000 in January to over six million in December. During the same period, more than two million individuals have used the service. The demand for this technology is not limited to the capital region—people across the entire country actively use it.
According to collected statistics, customers most frequently pay with a smile in food and beverage chains, pharmacies, restaurants, cafes, and stores selling household goods. Most transactions take place during three peak time intervals throughout the day:
- 8 AM – 10 AM
- 12 PM – 4 PM (Lunch Break)
- 4 PM – 8 PM (End of the Working Day)
These two latter intervals are not merged into one because the former represents lunch hours, while the latter corresponds to the end of the workday.
It would be incorrect to assume that people use smile payments only for small purchases. For instance, some customers have used this technology to buy jewelry worth over $20,000. Additionally, an individual paid with a smile for a passenger car valued at over $57,000.
Sber has already installed one million bioterminals for smile payments in various venues. It is committed to further developing and enhancing the infrastructure to boost the adoption and penetration of this technology.
Leadership in Card Issuing
Tsarev highlights that while innovative technologies are gaining massive adoption, conventional payment methods remain relevant and will likely persist for the foreseeable future.
Last autumn, Sber was once again recognized as the largest bank card issuer in Europe. Among the top 50 European issuers, one in five cards was issued by Sberbank. These statistics were provided by The Nilson Report.
Additionally, Sber reaffirmed its leadership in the POS transactions sector. By the end of 2023, the total volume of money transfers processed by the bank reached $433 billion.
Moreover, Sber leads by a huge margin in Europe in terms of the number of bank cards in circulation. The bank has 182 million active cards. It issued 19.8% of all 920 million cards released by the top 50 European banks.
Kirill Tsarev’s Comments on Sberbank’s Achievements in Payment Technology Development
In a recent interview, Tsarev emphasized that the organization has held first place in the European acquiring market for the eighth consecutive year. According to him, this achievement is a significant milestone for the company’s team.
He stated:
“Now, in our acquiring network, customers can pay using a card, QR code, NFC-enabled Android phones, stickers, and even with a smile—using biometrics. More than 600,000 biometric-enabled terminals have already been installed across the country, meaning that over 30% of payment terminals can process biometric transactions. And we plan to further develop the service.”
Additionally, Tsarev mentioned another strategic goal that Sberbank has been pursuing—improving customer experience and optimizing payment technology to reduce the time needed for a payment operation by one or two seconds. He emphasized that speed is a crucial factor in money transfers.
Furthermore, Tsarev revealed Sber’s ambition to become the second-largest acquirer in the world by 2026. Currently, Sber holds the third position, which is already an impressive result.
Kirill Tsarev’s Biography
The future top manager was born in 1978. He completed two higher education degrees in the fields of economics and law.
Tsarev’s professional career began in the leasing sector, and in 2011, he joined Sberbank. By 2020, he was promoted to Senior Vice President, and later, in 2022, he became the First Deputy Chairman of the Board.
