Translation. Region: Russian Federal
Source: Central Bank of Russia
An important disclaimer is at the bottom of this article.
Bank of Russia entered informationabout the Association of Payment Agents in the register of self-regulatory organizations (SRO) in the financial market.
Now, the self-regulation model, which has been successfully applied to the financial market, is being applied to the activities of payment agents, allowing them to flexibly respond to changes, implement best practices, including through standards, and monitor their implementation.
From the date of the appearance of the first SRO, all operators included inrelevant register Bank of Russia, there is an obligation to join any specialized self-regulatory organization within the 90-day period established by lawAfter the specified period, participants in this market who have not joined the SRO will be required to cease their payment acceptance activities.
As a reminder, the Bank of Russia currently registers over 600 payment processors. Through their cash registers and payment terminals, people can pay for goods, utilities, communications, television, and other services, as well as make mandatory payments.
Preview photo: Soonthorn Wongsaita / Shutterstock / Fotodom
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