NPCS to launch pilot with four countries in order to integrate QR systems for payments

MOSCOW. April 2 (Interfax) - The National Payment Card System (NPCS) is planning to launch a pilot project with four countries going forward in order to integrate QR systems based on the Faster Payments System (FPS), Alla Bakina, head of the Central Bank's payment system department, told the State Duma.

"We are continuing to operate on implementing payments using QR technology. And here it is important, including for cross-border transactions, so that people have the opportunity not only to transfer money, but also to pay for goods and services during their trips abroad," Bakina said.

"We are already running pilot projects in order to integrate our QR system based on the Fast Payments System with a number of foreign QR systems, four countries. A pilot project should be launched soon, and agreements have already been reached with three [bodies]. It is also a matter of time when the integration should be completed," she said.

The Russian authorities created NPCS in 2014 after a number of sanctions were introduced against Russia. NPCS announced the start of issuing the first Mir cards in December 2015. The sole shareholder of NPCS is the Bank of Russia.