Over 125 Million Mir Card Transactions Performed in September

30 October 2018

The Chief Executive Officer of NSPK (Mir Payment System operator) Vladimir Komlev delivered a speech at the meeting of the Interregional Banking Council under the Federation Council. The meeting was devoted to the issue of ensuring financial stability under the existing risks of external influence on the banking sector.  

The meeting was opened by Yevgeny Bushmin, Deputy Speaker of the Federation Council and, Chairman of the Interregional Banking Council under the Federation Council. He noted that Mir Payment System is a good example of efficient import substitution in the financial sector.

Vladimir Komlev, in his turn, pointed out that the project turned out to be successful as a result of the concerted efforts of all process participants, and particularly emphasized the leading role of the Central Bank in the creation of the national payment system.

He told the audience what instruments NSPK used in its operation to ensure the independence of the national payment system:

“All the system components are located in our country. We maintain control over all domestic card transactions. Wherever possible, we use Russian hardware. Most of the software has been developed by NSPK’s employees. We are the owners of all source codes. The support for this software is performed within our company. And, of course, we create our own products, services and technologies for the national payment system.”

In his speech, the head of NSPK noted that currently over 45 million Mir payment cards had been issued, and their share in the total issue market had almost reached 17%. At the same time, over 125 million interbank transactions were performed with national cards in September, while their total number exceeded 320 million.

Vladimir Komlev spoke about the plans to complete in the near future the creation of a single payment area of the EEU countries:

“Mir cards are already being accepted in Armenia. They are starting to be accepted in a part of the Belarusian infrastructure. Similar projects are being negotiated with other countries, and what is most important is that they are being built on the basis of the Mir Payment System’s technology. Thus, we are promoting our inventions and technologies in other countries of the world.”

The meeting of the Interregional Banking Council was also attended by:

·       Nilolai Zhuravlev, First Deputy Chairman of the Federation Council Committee on the Budget and Financial Markets,
·       Ksenia Yudaeva, First Deputy Governor of the Bank of Russia,
·       Vladimir Kolychev, Deputy Minister of Finance,
·       Anatolii Aksakov, Head of the State Duma Committee on Financial Market,
·       Natalia Porokhova, Senior Director, Head of Sovereign Ratings and Forecasting Group of Analytical Credit Rating Agency,
·       Garegin Tosunyan, President of the Association of Russian Banks,
·       Aleksey Panferov, Deputy Chairman of Management Board of Sovcombank Public Joint-Stock Company,
·       Andrey Beliyaninov, Chairman of the Management Board of the Eurasian Development Bank,
·       Konstantin Korishchenko, Head of the Department of Capital Market and Financial Engineering of the Russian Presidential Academy of National Economy and Public Administration.