First five Russian banks processing MasterCard transactions via Nat'l Payments System

13:37, 03.02.2015 1 min read

The first five banks some of them regional banks, have started to process some MasterCard transactions within Russia via the National Payment Card System's (NPCS) processing center, settling these transactions via the Central Bank, the Central Bank said in a press release.

The processing of transactions on international payment system cards is being transferred to the NPCS in stages. The process of linking banks to the NPCS must, by law, be wrapped up by March 31.