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Future of international payments belongs to national payment networks — Bank of Russia

It is reported that the first countries began to develop their national payment systems, which were previously essentially non-existent

ST. PETERSBURG, June 15. /TASS/. Many countries started to develop their own payment networks and international monetary payments currently relies on such platforms, Governor of the Bank of Russia Elvira Nabiullina said on Thursday.

"Many countries are now actively working to establish regional payment platforms. The first countries began to develop their national payment systems, which were previously essentially non-existent. <…> As I see trends, the emphasis is made on various national payment systems communicating with one another, as well as their interoperability with other national payment systems or regional platforms," she said.

The 26th St. Petersburg International Economic Forum (SPIEF) — Russia’s showcase annual economic and business event — is being held on June 14-17. The theme of this year’s forum is: "Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations." TASS is the official information partner of the event.

SPIEF’s expanded business program offers attendees the opportunity to participate in more than 140 sessions featuring over 1,000 moderators and speakers, according to event organizer Roscongress Foundation.

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