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Bank of Russia sets new requirements for payment equipment developers

Approaches effective since 2020 will be replaced

MOSCOW, January 30. /TASS/. The Bank of Russia set new compulsory requirements to hardware and software for devices used in card payment systems.

Approaches effective since 2020 will be replaced. The relevant document was posted on the Central Bank’s website.

"Requirements set out parameters for developers of such systems and will replace approaches effective since 2020. They cater for new measures of the regulator to protect information during transfers and are also aimed at improving efficiency of the import phaseout process," the Bank of Russia said.

New requirements cover hardware security modules, payment terminals, ATMs and payment cards developed and produced by Russian developers using the domestic cryptographic security equipment. Requirements do not apply to the use of encryption equipment of foreign make, the document indicates.