Mir Payment System’s Paradigm: of Mir Loyalty Program Best Practices Aroused Interest in Europe

31 October 2018

In his presentation at the   4th International Conference of Regional Card Schemes & Retail Financial Market Infrastructures in Madrid on October 24-26, Vladimir Komlev, Chief Executive Officer, NSPK (Mir Payment System operator), spoke about Mir inventions.

Vladimir Komlev participated in the panel session devoted to technologies and development strategies of national payment systems and their international integration.

A high profile was given to the building up of Mir, the Russian national payment system, under tight deadlines, the development of its infrastructure and technologies. The Mir experience of setting up a cross-system integration with local payment systems was ranked one of the best practices of the global payment industry.

Vladimir Komlev dwelled upon the technologies developed by Mir Payment System and the projects of implementing non-financial services. He laid a special emphasis on the loyalty platform built into the Mir Payment System’s processing, which is a unique solution for the industry and arouses great interest among European colleagues.

In his speech, the head of NSPK also pointed out that one of the priority business areas of Mir Payment System, whose cards are widely accepted in the Russian payment infrastructure, is international development:

“Our work on the expansion of the Russian card abroad has been multidimensional . The launch of cobadged cards at the very beginning of Mir card issuing in 2015 was the first step in this direction, and currently we are implementing cobadging projects with Maestro, JCB, and UnionPay. In Russia, these cards are accepted as Mir, and abroad they are accepted in the entire networks of our partners. Today, one of the key international development projects is the creation of a single retail payments area of the EEU countries. We have already set up a cross-system interaction with ArCa, the Armenian Payment System. In Belarus, a part of ATMs already accept Russian cards, and we are currently negotiating with the local payment system in this country, and in Kirgizia, and Kazakhstan. We plan to complete the project by the end of 2019.”

In addition to cross-system interaction, the issue of entry into the payment market of a particular country through its largest acquirers is also being worked over.

The session participants also discussed the issues related to the interaction of national payment systems with the regulator. Vladimir Komlev described in detail the way the tariffs can be controlled and the sovereignty of the national payment area can be ensured through such interaction. V. Komlev also noted:

“We are ready to share not only our experience with our partners, but our technologies: contact, contactless mobile applications, technological platforms that meet all leading international standards, including the EMV.”

Wrapping up his speech, the NSPK CEO spoke about a new project that is unrivalled in the Russian payments market - the Instant Payments System- whose processing is currently being developed by the best experts of the company.

The event was attended by Gianluigi Rocca (SIA, the Italian company that provides financial and technical solutions for the banking sector) and Cédric Sarazin (Cartes Bancaires, the French card payment system), who presented the findings of the international study on the positioning of theirnational payment systems in the countries’ financial ecosystems, and representatives of Troy Payment System (Turkey) and BANCOMAT Interbank System (Italy).