JSC NSPK and MasterCard OOO Have Signed an Agreement
On December 30, 2014, JSC NSPK and MasterCard OOO signed a bilateral agreement on rendering operational and payment clearing services with regard to domestic transactions using the cards of MasterCard payment system via NSPK Processing Center.
On December 30, 2014, JSC NSPK and MasterCard OOO signed a bilateral agreement on rendering operational and payment clearing services with regard to domestic transactions using the cards of MasterCard payment system via NSPK Processing Center.
Entering into the agreement will make it possible to initiate a phased transition of domestic transactions on MasterCard cards for processing to NSPK.
The Bank of Russia will act as a settlement center. JSC NSPK, the Bank of Russia and MasterCard OOO have signed a trilateral agreement determining the procedure of rendering settlement services related to the transactions mentioned above.
Signing these documents is a crucial practical step to implement the first stage of the NSPK Strategy — development of Transaction Payment and Clearing Center to process domestic transactions on cards of international payment systems.
Olga Skorobogatova, Deputy Chairwoman of the Bank of Russia:
«We have reached an ultimate agreement with Visa Company that all the settlements involving domestic transactions using Visa cards will be made via the Bank of Russia, and that transactions on Visa cards will be transferred for processing to NSPK Transaction Processing and Clearing Center (TPCC). These agreements have been signed and are the most crucial step contributing to availability and smooth running of the transactions made using the international payment system cards.»
Andrew Torre, CEO at Visa Russia:
«Immediately after amendments to the law On the National Payment System have come into effect, Visa started working with the Bank of Russia to find a solution related to domestic transactions processing which would be applicable for all the parties involved. For several months, Visa experts together with professionals employed by the Central Bank of the Russian Federation and NSPK have routinely created the conditions to ensure smooth servicing of Visa cards in Russia. We are grateful to our colleagues for all their endeavours and highly appreciate the fact of working together with true professionals in their industry.»
Vladimir Komlev, General Director of JSC National System of Payment Cards (NSPK):
«Before we entered into the agreement with Visa, our professionals and developers have worked together for a long time. Owing to this cooperation and support rendered by the Bank of Russia, NSPK will succeed in transferring domestic transactions on Visa cards for processing to NSPK Transaction Processing and Clearing Center.»