Development Stages of the Payment System

The NSPK Development Strategy envisaged three stages:

1.     At the first stage (before March 31, 2015), an independent national platform to process domestic transactions performed with the use of national and international payment cards was created. Interaction between the payment card industry participants was organized via NSPK Operational and Payment Clearing Center regarding any transactions performed with international payment systems’ cards.

2.     At the second stage (April – December 2015), a set of measures to launch and develop national payment instruments was taken.

3.     The third stage (2016 – 2018) envisages measures to saturate the NSPK product line with up-to-date payment products and services, promote them and expand in Russia. It also envisages promotion of national payment cards and other electronic payment instruments, as well as the NSPK services outside of Russia.