Date: 2 weeks ago   Category: Economy

Kommersant warns against withdrawal from Russia of the international payment service providers


The bill adopted in the first reading is designed to deprive foreign payment service providers of an opportunity to disconnect the Russian banks from carrying out payment under maps.

can lead New amendments to the law "On the National Payment System" which the State Duma of the Russian Federation will consider in the second reading on July 23 to withdrawal from Russia of the international payment service providers (IPSP), Kommersant on Friday, July 12 writes. As notes the edition if the law is adopted, then, in fact, the Russian subsidiaries Ministry of Railways will be forbidden to stop carrying out payment under cards of the banks which fell earlier under sanctions. As a result the international payment service providers should change rules of work in the Russian market.

the Actual ban on implementation of sanctions
by
If the law is adopted, on reduction of rules in compliance with new requirements 180 days will be allotted. After this term suspension of calculations of any bank, for example because of sanctions, will be considered as violation which the instruction of the Central Bank about correction will follow. If it is not executed, the Russian INFORMATION RETRIEVAL SYSTEM subsidiary will be excluded from the register of operators of payment service providers of the Central Bank that means the actual ban on work in Russia.

But even in case of an exception of the register the foreign companies will have an opportunity to return to Russia, Kommersant notes. For this purpose they, according to the bill, have to be registered in the Central Bank as foreign payment service providers. Banks which will want to resume release of cards will be able to do it only for themselves, having registered as INFORMATION RETRIEVAL SYSTEM operators.

fall Under operation of the bill Visa, MasterCard and
the Author of the bill, the head of the State Duma Financial Market Committee Anatoly Aksakov called in an interview of Kommersant the purpose of amendments "to forbid any payment service providers to state a possibility of disconnection of the Russian banks from carrying out payment under maps in the rules".

fall Under operation of the bill all large foreign systems: at the moment Visa has affiliated structures consisting in the register of operators of payment service providers of the Central Bank, MasterCard, China Union Pay, JCB, etc.

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