31.03.2014 - 17:57 [ Kreml ]

Meeting with Sberbank CEO and Chairman of the Board German Gref

Mr Gref said that once amendments to the law are passed, it will take two to six months to organise the Russian-based processing centres that will provide a full range of payment, clearing and processing services for all card transactions. A processing centre has already been established, a Russian-made chip, manufactured by Russian company Sitronics, has been developed and certified, the needed identification protocols have been developed, and standards that are compatible with international payment systems are ready.