The NSPK CEO: “The world of tomorrow is where material payment instruments are replaced by message transfer systems”

8 June 2018

Vladimir Komlev, Chief Executive Officer of the National Payment Card System, spoke today at the Roundtable “Digital Transformation of the Financial Sector: Challenges and Opportunities" in St. Petersburg as part of the International Financial Congress.

The financial market’s landscape is changing rapidly. Financial organizations actively digitalize their inhouse processes and business models, proactively developing and introducing new technologies and collaborating with IT companies. Digitalization also requires the development and introduction of platform solutions, in particular, in the sphere of remote identification, instant payments, platform marketplaces for financial products and services.

Vladimir Komlev shared his opinion on the development of the payment sector in our country. In his speech, the CEO of NSPK pointed out the key changes that have occurred in the Russian financial market in recent years.

Vladimir Komlev noted, "In our country, over the last few years only, cards as a cash withdrawal instrument emerged as a product for everyday use. They will remain in the market for quite some time as a convenient and popular product, but the development will shift to digitalization. At the same time, it is interesting to note that the paradigm of perception of a card acceptance network as a heavy, inert and difficult to replace structure has changed. Today, digital technologies demonstrate that a card may not only be used as such by holding it close to the terminal, but payment details can be transmitted in some other ways. We just need to invent the way to make such transactions secure. The QR code and remotely downloaded applications have appeared; the POS-terminal is no longer needed if there is the Internet, and the deployment of a payment product acceptance network becomes a pretty simple task. Nevertheless, the world of tomorrow is where material payment instruments are replaced by message transfer systems. The instant payments system is the trend that broke the current payment paradigm, and it has been built around the ability to work with big data. A user can be identified by any information, even by a phone number not tied to the account number in any way, but the technology enables to understand in the online mode who the user is, where he or she wants to transfer the money, and to make this transfer."

Olga Skorobogatova, First DeputyChairman, Bank of Russia, spoke as the moderator of the Roundtable. 

Among those present at the event were: 

Olga Dergunova, Vice President and Deputy Chairman of the Board, VTB Bank 
Dmitry Rudenko, President, Chairman of the Board, Post Bank 
Sergey Solonin, Chief Executive Officer, Qiwi 
Lev Khasis, First Deputy Chairman of the Board, Sberbank 
Max Hauser, Partner, Managing Director, The Boston Consulting Group