Russia Begins Testing National Payment System Next Week (Dec. 9, 2014)
Russia is scheduled to begin testing its new National Payment System (NPS) with eight banks next week, and the platform is scheduled to become fully operational in the first quarter of next year. Visa and MasterCard transactions will be processed through it, and the NPS expects to start issuing its own cards by the end of 2015, according to reports. For an in-depth look at the challenges and opportunities a Russian payment scheme presents, click here to read a Viewpoint by Edgar, Dunn & Company.
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