Central Banking

Basis for unified payment system in Russia

In December, the Interagency Smart Cards Commission will present a draft plan for putting together a unified payment system in Russia. The system will be based on the payment system of Sberbank, and the clearance and cash center of the central bank will be used for inter-bank payments.

Vladimir Simonov, co-chair of the Interagency Smart Cards Commission and general director of the Russian Management Systems Agency, reports that the government has approved development and financing of the

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