MasterCard transfers Russian transaction processing to National Payment System April 1Economy
The international payment system MasterCard will transfer local Russian transaction processing to the National System of Payment Cards (NSPC) by April 1 according to the Russian legislation requirements, the company said in a report Friday.
"MasterCard together with the NSPC is working at transferring the local Russian transaction processing to the NSPC infrastructure by April 1, 2015. Thus, MasterCard will not only fully implement the requirements of the Russian legislation but will also continue introducing innovations in the electronic payment sphere in Russia," the report said.
Russian top lender Sberbank will start processing MasterCard cards via the National System of Payment Cards (NSPC) on March 30. The transferring period for Visa card operations will take 1-2 weeks, director of the bank card and cash services department at Sberbank Rostislav Yanykin said Friday.