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Bank of Russia financial messaging system includes 106 non-residents

Olga Skorobogatova also added that the issuance of Russian Mir payment system cards in 2022 increased by 60% despite the fact that cards of international payment systems continue to work in Russia

ANOSINO /Moscow Region/, March 2. /TASS/. The Financial Messaging System of the Bank of Russia (SPFS) already includes 106 non-residents, Deputy Governor of the Bank of Russia Olga Skorobogatova said on Thursday.

"There are 106 non-residents in the Financial Messaging System," she said. "The number of participants in the SPFS should increase this year and the Bank of Russia is working to simplify connection to the system," she said.

Skorobogatova also added that the issuance of Russian Mir payment system cards in 2022 increased by 60% despite the fact that cards of international payment systems continue to work in Russia. "When it comes to numbers, the Mir card now has 182 mln issued cards. I must add that this was mainly organic growth, as we continued to process cards from foreign payment systems within the country. We did this on purpose so that consumers would not be shocked by an abrupt transition to the national payment system," she said.

In 2014, the Bank of Russia launched the Financial Messaging System in test mode, which can transmit data in the SWIFT format but does not depend on its channels. In 2017, the system became fully operational, transmitting financial messages about transactions in any currency. In mid-February 2023, it was reported that the number of SPFS members had increased to 469.

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