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All Russian banks working with Visa, transfer local transactions to NSPC from May 27

All international payment systems should have transferred local Russian transaction processing to the NSPC by March 31 pursuant to the law on creation of a national payment system in Russia

© ITAR-TASS/Anton Novoderezhkin

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MOSCOW, May 28. /TASS/. All Russian banks working with Visa, have transferred local transactions to the National System of Payment Cards (NSPC) processing, Central Bank Deputy Chairperson Olga Skorobogatova said Thursday.

"Yesterday we transferred all Russian banks working with Visa to NSPC processing," she said.

77 Russian banks work with Visa.

As was reported earlier all international payment systems should have transferred local Russian transaction processing to the National System of Payment Cards by March 31 pursuant to the law on creation of a national payment system in Russia. For local payment system the deadline is December 31.

MasterCard was the only international payment system to meet the deadline implied by the law. The company said in March that not only did it fully implement the requirements of the Russian legislation but "also continued introducing innovations in the electronic payment sphere in Russia.".

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