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Russia should switch to own system of plastic cards this year — President Putin

July 10, 2015, 18:58 UTC+3 UFA

The President said that when switching to its own system of payment card Russia could be guided by the experience of Japan and China

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UFA, July 10. /TASS/. Russia should switch to the national system of banking cards this year to stop depending on foreign banking systems, Russia’s President Vladimir Putin said at the press-conference after the SCO and BRICS summits on Friday.

According to the president, it is necessary to correct the current situation, where most citizens use cards issued by foreign systems.

"As for financial instruments, we need to fully launch our own "plastic" this year, make it available to our citizens. We need to develop it not only in Russia but also to introduce it abroad," Putin said.

The President said that when switching to its own system of payment card Russia could be guided by the experience of Japan and China.

"I am confident that this [the transition -TASS] will advance, we have a huge market," the Russian leader said.

Putin noted that he considers the situation where Visa and MasterCard provide services for 97% of customers in Russia abnormal.

"Visa and Mastercard provide services to 97% of clients in Russia. Is it a normal situation? No!" Putin said.

He added: "We allowed our partners do so proceeding from the fact that economy is out of politics".

"It turned out that this is not the case, it [economy - TASS] is submerged in politics and used as an instrument of political struggle," the Russian leader said.

That is why, "we should make conclusions," he said.

"That does not mean that we should build a wall around us - this won’t happen. We will use all instruments of cooperation with all the countries - with the US, with European and Asian states," Putin said adding that Moscow will develop relations first of all with "those who are willing to cooperate with us".

"BRICS countries want this and they are powerful countries with prospects of strategical development, these are the future leaders of the world and of the global economy. No doubt about it," Putin said proposing to look at "human and natural resources [of BRICS], their potential and growth rate".

Putin said he also forecasts the emergence of new instruments of cooperation, which will have a positive impact on the lives of people in BRICS countries.

"We will deal with the world which is more balanced, safe and prosperous,"- the president said finishing his speech at the press conference after the SCO and BRICS summits in Ufa.

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