Speaking on the sidelines of the Russian Economic and Financial Forum in Switzerland, Vneshekonombank (VEB) Chairman Vladimir Dmitriev declared his bank’s readiness to help Sberbank with the creation of a national card payment system (NCPS). “As a bank created for overcoming the infrastructural restrictions of growth in the Russian economy, VEB is ready to render support for Sberbank with the creation of the NCPS.”
The plan for the creation of NCPS envisages the incorporation of a joint-stock company with the participation of the country’s largest Russian banks. Dmitriev noted that the VEB’s direct role in this project was not discussed at the March meeting with the Russian President that was devoted to the NCPS creation because the bank does not have the statutory right to run a retail business. “However, VTB, like the other large banks in the country that are interested in realization of this project, is ready to grant both technologies and platforms for processing the payment cards.”
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