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Executive says Russia still priority market for Visa

Visa continues collaborating with its partners in the country, CEO of Visa’s local division Andrew Torre said

© ITAR-TASS/Yury Smityuk

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Visa assesses localisation of processing in Russia at $70 million

MOSCOW, November 13. /TASS/. Russia remains one of the key markets for international payment system Visa despite the legislative changes, CEO of Visa’s local division Andrew Torre said Thursday at a payment system forum.

Visa continues collaborating with its partners in the country, and the company is investing in innovations, he said.

Russia has recently passed a law under which foreign payment systems must pay a pledge with the Central Bank until October 31 to continue operating in the country, but later the deadline was moved to March 31, 2015. Cooperation with the national payment card system will allow international payment systems to avoid payments.

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