Visa is looking for partner for Russian domestic

Visa is looking for a partner for the Russian domestic processing: to no avail

Visa has not yet found a partner for the Russian domestic processing, told the head of the company’s innovation department "Visa Russia, the CIS and South-Eastern Europe" Andrew Aleykin.Visa continues to search for Russian domestic partner.

"Once it is completed, we will inform", – he said.

The law on the establishment of Russian payment cards of the National System (NBTS) and ensuring the smooth operation of international payment systems, was adopted in the spring of this year, after Visa and MasterCard have refused to serve the customers of a number of Russian banks, came under US sanctions because of the inclusion of Crimea in structure Russia. It contains a prohibition on the unilateral termination of the provision of services not only to operators of payment systems, but also operators of payment infrastructure, settlement centers, as well as the participants in the payment system.

In addition, the payment system operator, which is not a national importance, is obliged to submit to a special account with the Central Bank a security deposit. The premium has become a major challenge for the international payment systems. He equated the amount of money transfers in the territory of Russia in the framework of the payment system in two days. Morgan Stanley’s experts assessed the contribution rate for MasterCard to $ 1 billion, and for Visa – almost twice as much: $ 1.9 billion.

June 25 has been published for expert discussion draft decree giving reprieve Visa and MasterCard to pay contributions until 31 October. During this time they will find partners in Russia.

Within the framework of St. Petersburg International Forum in May of payment systems management held talks with representatives of the Russian government, following which it was announced that Visa and MasterCard will continue to work in Russia.

Companies create subsidiaries, which will be integrated into the formed national payment system. Operators six months to cooperate with the Russian payment systems, and then it will take another year and a half to create "daughters". Processing will be carried out in Russia.

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