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Russian regulatory environment and the National payment system EDAYS INTERNATIONAL E-COMMERCE CONFERENCE MOSCOW, JUNE 4-5, 2015
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  1. 1. Russian regulatory environment and the National payment system EDAYS INTERNATIONAL E-COMMERCE CONFERENCE M O S C O W , J U N E 4 - 5 , 2 0 1 5
  2. 2. The development and implementation of Russias NSPC E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 2
  3. 3. Key stages of NSPC development Stage 1: Until March 31, 2015 Development of national independent operational platform via local operational payments and clearing center Stage 2: April-December 2015 Development and launch of National payment instruments (payment cards) Stage 3: Y2016 2018 Launch of new products and services of NSPC in Russia as well as promotion of Russian cards and payment instruments outside Russia E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 3
  4. 4. What has been achieved so far and next steps Now Stage 1 is completed: Russian banks have transfered Master Card and Visa cards processing to the NSPC Operators security deposits have been paid in accordance with Article 82.5 of Federal law 161 The NSPCs tariff policy has been made public. However no concrete numbers are available yet; E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 4
  5. 5. Integration of international card operators Next steps include: The integration of international card operators in co-badging* form with JCB and MasterCard (negotiations - to be completed in 2 months, according to Olga Skorobogatova of the Central Bank) In 2016 the Central bank will further develop international cooperation of NSPC with other foreign players * Co-badging allows payers to use both payment systems infrastructure E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 5
  6. 6. Consequences for foreign players and Russian consumers Consequences for foreign players (online and offline merchants, ISPs) will be visible starting with local cards issuance December 2015 If co-badge is properly done, no changes will affect merchants / consumers 239+ million cards are issued in Russia up to now; in 2-3 years Russians will have newly issued national cards E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 6
  7. 7. The new payment regulations E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 7
  8. 8. The new payment regulations: E-wallets and repaid cards E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 8 A bit of history: Acting limits before May 16, 2014 Proposed limits, beg. 2014 - not approved unidentified unidentified identified in simplified way unidentified Limit of 1 transaction 15.000 RUR 1.000 RUR n/d 15.000 RUR Number of transactions, daily n/d 1 n/d n/d Outstanding amount @e-wallet 15.000 RUR 5.000 RUR 60.000 RUR 15.000 RUR Monthly payment volume 40.000 RUR 15.000 RUR 200.000 RUR 40.000 RUR Cross-border payments not allowed not allowed allowed not allowed Final wording (from May 16, 2014) E-commerce industry now benefits from simplified identification, which still needs improvement
  9. 9. The impact of the personal data storage law on e-commerce players and payment systems E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 9
  10. 10. The impact of the personal data storage law E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 10 According to Federal law 152, amended in 2014: Starting from Sept. 1, 2015, organizations are required to use databases located in Russia for the collection (including collection via Internet), recording, structuring, storage, editing, extraction of Russian citizens personal data. Impact on e-commerce players and PSPs includes transfer of databases to Russia in case foreign datacenters are used currently
  11. 11. [Company logotype and/or speakers picture] Lets keep in touch! Elena Orlova expert in e-payments ex-CEO at PayU Russia Email: [email protected] Phone: +7903 9618070 E D A Y S I N T E R N A T I O N A L E - C O M M E R C E C O N F E R E N C E M O S C O W , J U N E 4 - 5 , 2 0 1 5 11