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Organization of the National Payments Council in Russia: Structure and Participants

Organization of the National Payments Council in Russia: Structure and Participants. Timur AITOV, PhD, Executive Director, Association of Russian Banks. German-Russian Sub-Working Group on Financial Services 19th Meeting Bonn, 24-25 November 2011. Challenging Business Environment.

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Organization of the National Payments Council in Russia: Structure and Participants

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  1. Organization of the National Payments Council in Russia: Structure and Participants Timur AITOV, PhD, Executive Director, Association of Russian Banks German-Russian Sub-Working Group on Financial Services 19th Meeting Bonn, 24-25 November 2011

  2. Challenging Business Environment Challenging Landscape Poor Coordination • There is no proper best practices generalization to reduce the level of fraud • Russia loses 1.5% of GDP due to the lack of standards for all services (including financial) • There is no proper collective expertise in implementing large infrastructure projects (Universal Smart Card) • Weak coordination to implement the latest technology of mobile banking and Innovation

  3. Lack of activity in the promotion of non-cash payments

  4. The experience of the European Union requires the Russian National Payments Council (НПС) Членам Ассоциации российских банков …Сегодня в числе приоритетных задач – повышение надёжности банковского сектора, формирование современной инфраструктуры, необходимой для развития международного финансового центра. Важно уделять внимание долгосрочному инвестированию в модернизацию национальной экономики, в новые высокотехнологичные производства… Желаю вам новых успехов и удачи. Д. Медведев • Analogs of Russian NPC • UK Payments Administration (formerly APACS), • European Payments Council - EPC, • Councils in France, Germany and elsewhere

  5. List of priority activities of NPC

  6. OBJECTIVES • Assistance to the regulators in the development of • modern, • safe and • efficient national payment system • with the goals and objectives of key policy documents…

  7. NPC of RussiaCommittee Members

  8. National Payments Council (Block Diagram)

  9. We Are Only in the Beginning… • NPC will work closely with • public authorities and the Central Bank • The first major task should be • the strategy development of the National Payment System • NPC • generates a consolidated opinion on the basis of consensus, • creates common rules and standards of business on the market, • is based on the principles of self-regulation

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