<a href=/RCL/BAN/009/?lnk=yes target=_blank><img src=/RCL/BAN/009/141014_1.gif width=1050 height=60 border=0></a>
Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact Us
Customer Login
 


Headlines
 

10/31 15:42   Belarus, Russia to sign intergovernmental deal on Grodno Azot
 
10/31 15:41   ICRC resumes its work in eastern Ukraine (Part 2)
 
10/31 15:40   ICRC resumes its work in eastern Ukraine (Part 2)
 
10/31 15:37   Belarusian authorities discuss currency depreciation
 
10/31 15:36   Erstwhile threats remain in 21st century, situation worsens in some regions - Putin
 
10/31 15:35   Erstwhile threats remain in 21st century, situation worsens in some regions - Putin
 
10/31 15:32   Belarusian govt predicts 2% GDP growth in 2015
 
10/31 15:31   Daily Headline News for October 31, 2014
 
10/31 15:30   Gov't order on $100 discount for Ukraine may be signed over next several days - Miller (Part 3)
 
10/31 15:30   Official exchange rates for CIS and Baltic nations as of 31.10.2014
 




 

Interfax.com  |  Interfax news  |  Security requirements for Visa, MasterCard to be...


News headlines


June 18, 2014 20:15

Security requirements for Visa, MasterCard to be lowered, but not eliminated - Shuvalov (Part 2)

GORKI. June 18 (Interfax) - After amendments are made to Russia's law on a national payment system, security requirements for Visa and MasterCard will be lowered compared with the previously proposed variant, but they will not be eliminated completely, Russia's First Deputy Prime Minister Igor Shuvalov said.

"They [restrictive measures] will be lowered substantially if the federal law is passed that gives the government and Central Bank of Russia the authority [to set deposits], but this will be an entire system that presents serious relief for them, but does not completely eliminate responsibility. A certain responsibility for them remains," Shuvalov said at a briefing following a meeting on Wednesday with Russian Prime Minister Dmitry Medvedev on the national payment system.

He did not say how much the deposit payment would be that the companies must pay to operate in the country. Shuvalov noted that on June 25 the Central Bank commission would determine on which basis the technological platform would be developed for the Russian payment system and how it would work with banks and create joint hosting relations.

Shuvalov said he hoped the law, which gives the Central Bank and the government the right to approve regulations and introduce features of the payment systems' operation, would be approved in the coming weeks. "Of course we are not going to create any limitations to force out Visa and MasterCard from the market, but we understand that the situation that occurred, the restrictive decisions that were made, must not happen again," he said.

Shuvalov added that the solutions discussed at Wednesday's meeting should reassure Visa and MasterCard.

"We are expecting the first reading today. If all goes well, the second reading [will be] on Friday. If we pass [the law] soon, then we will immediately show the governmental decree," he said, adding that if the law is passed the government's decree will it clear how much and when the payment systems will pay the security deposit. "They will have significantly easier conditions for carrying out business in the Russian Federation if processing will take place on Russian territory," Shuvalov said.

Kh of

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
 Subscription
You can access a demo version of, receive more information about or subscribe to Interfax publications by filling in and returning the form below. We also have dozens of reports in the Russian language, please indicate if you are interested.
Title:


Phone:


E-mail:


First name:


Company:


Country:
Last name:


Division:


City:
Products:
Central Asia & Caucasus Business Weekly
Central Asia General Newswire
Global Gas Analytics
Global Natural Gas Daily
Interfax Via Bloomberg Terminal
Kazakhstan General Newswire
Kazakhstan Mining Weekly
Kazakhstan Oil & Gas Weekly
Russia & CIS Announcements
Russia & CIS Banking and Finance Weekly
Russia & CIS Business and Financial Daily
Russia & CIS Business and Financial Newswire
Russia & CIS Business and Investment Weekly
Russia & CIS Business Law Weekly
Russia & CIS Business news
Russia & CIS Defense Industry Weekly
Russia & CIS Diplomatic Panorama
Russia & CIS Energy Daily
Russia & CIS Energy Newswire
Russia & CIS Events Calendar
Russia & CIS Food and Agriculture Weekly
Russia & CIS General Newswire
Russia & CIS Headline News
Russia & CIS Insurance Weekly
Russia & CIS IT and Telecom Weekly
Russia & CIS Metals and Mining Weekly
Russia & CIS Military Daily
Russia & CIS Military Newswire
Russia & CIS Military Weekly
Russia & CIS Oil and Gas Weekly
Russia & CIS Presidential Bulletin
Russia & CIS Statistics Weekly
Russia Health & Pharmaceuticals
Russia Market Roundup
Russia Press Review
Ukraine Business Daily
Ukraine Business Weekly
Ukraine General Newswire

October 31, 2014
 
15:30
Gov't order on $100 discount for Ukraine may be signed over next several days - Miller (Part 3)
 
15:30
Official exchange rates for CIS and Baltic nations as of 31.10.2014
 
15:30
Daily Headline News for October 31, 2014
 
15:29
 
15:26
Kyiv publishes text of trilateral gas protocol (Part 2)
 
15:23
Norilsk Nickel board recommends $17.6 per share 9M dividend
 
15:22
Mosenergo sees RAS net profit fall 39% in 9M to 2.85 bln rubles (Part 2)
 
15:21
Vnukovo flight operations supervisor Dunayev charged in Falcon crash case
 
15:20
Novak: Naftogaz is sole buyer of Russian gas in Ukraine
 
15:19
Rosneft discusses possible transactions in national currencies for contracts with Chinese cos (Part 2)
 
15:19
POROSHENKO BLOC WILL BACK YATSENIUK'S CANDIDACY FOR PRIME MINISTER ON CONDITION OF AGREEING COOPERATION PLAN - PARTY STATEMENT
 
15:13
PMI Index of Russian manufacturing falls to 50.3 in Oct, approaching critical level - HSBC
 
15:13
Russia's national definition money supply contracts 0.1% in September - Central Bank
 
15:10
Cherkizovo Group increases pork sales 7%, poultry meat - 24% in 9M (Part 2)
 
 more headlines 



Interviews
 

.
The name Arkady Rotenberg has been in the news far more frequently than usual in recent months. The billionaire was hit by the first wave of European Union sanctions against Russia, and has already challenged this decision in court. Recently it was reported that the businessman has sold part of his assets to his eldest son. Arkady Rotenberg spoke in an interview with Interfax about whether there was a link between these two developments, the impact of sanctions on his business, his friendship with President Vladimir Putin and many other topics.

more
.
.
Pakistani Ambassador to Russian Zaheer Aslam Janjua has given an interview to Interfax in which he speaks about prospects for supplying more Pakistani food products to Russia, the quality of such products and invites Russian companies to implement infrastructural projects in Pakistan.

more
.
.
John Padilla, managing director of consultants IPD Latin America, talks to Interfax about Colombia’s investment climate.

more

 
  
 ©   1991—2014   Interfax Information Service. All rights reserved.
contact information   |   Interfax offices   |   made by web.finmarket

News and other data on this site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax.

Browse other Interfax sites:  Interfax.ru   |   IFX.RU   |   Interfax Group   Rambler's Top100