On Friday, December 7, in the state Duma introduced two bills regulating the payment market, the authors of both the Chairman of the Duma Committee on financial market Anatoly Aksakov (“Fair Russia”) and his United Russia Deputy Igor Divinsky and Oleg Nikolaev (“Fair Russia”, economic policy Committee) and a member of the Council of Federation from the Kostroma region, Chairman of the Committee on budget and financial markets Nikolay Zhuravlev. Amendments were prepared more than a year, active participation in their development, the Central Bank, you know, two people familiar with the preparation of projects.
If the legislature approves the amendments, the Central Bank will adjust the payment application vendors which allow you to pay tied to the phone or watches a Bank card, ApplePay, SamsungPay, AndroidPay, and develop the payment system “World” service MirPay. Russia, according to Visa, on the 1st place in the world of payments through the services of Pay.
All operations in these services pass through the payment systems Visa and Mastercard, say the bankers. The Central Bank will adjust the telephone payment applications, not directly, but through banks. For example, banks can work with credit applications only if they don’t have access to your passwords and codes analogues of a handwritten signature, which give the right to dispose of the money.
Banks will also have to check whether operations involving the telephone requirements of the Central Bank to information security, in particular, the Central Bank will have the right to information about providers, services Pay.
All of these technologies are already quite conform with amendments still introduced in the Duma, said the Director of information security Department credit Bank of Moscow Vyacheslav Kasimov, he doesn’t expect any difficulties. The representative of VTB believes that the disclosure of information on payment services is possible, but in coordination with its vendor.
Under the regulation of the Central Bank, if the amendments are accepted, will get payment aggregators — companies that provide shopping, services card acceptance on the Internet. Such companies will have to obtain the status of the Bank payment agent and to enter into contracts with merchants on behalf of the Bank; to identify legal entities and individual entrepreneurs when applying for service and meet all the same requirements of information security. If a payment aggregator shall transfer the funds first to your account, and then translates them into tradesmen’s bills, then he can work only through a special Bank account with a limited set of operations. Funds in such special accounts can’t be seized, they cannot be included in the bankruptcy estate. “The main thing is to protect the funds of individuals that aggregators credited to their accounts before transferring the outlets”, says the Chairman of the Board NP “national payment Council” Alma Obaev.
Aggregators will need to find a Bank partner that is not easy, says CEO of the Association “Financial innovation” Roman Prokhorov, and contracts with merchants will have to re-register and their conditions can change. Aggregators, as a rule, and now assess counterparties, but the identification requirements for legal entities and individual entrepreneurs they have, says Prokhorov, most of the amendments affect those aggregators that run through your accounts. But those who work on the model information technology maintenance, will have to negotiate with the Bank to get the status of the Bank payment agent, he sums up.
The amendments will increase costs for banks and their partners, says the representative of “Yandex. Cash”: they will have to reconsider their relations and to reformat them under new conditions. “Yandex. Cash” promises to fulfill requirements of information security, continues her representative, but traders can be difficulties. In the bill there are pluses, he finds, for example, it allows to transfer electronic money (they are counted by the banks without opening Bank account), translated from legal entities and individual entrepreneurs, on the corporate card.
Invest additional money to comply with the amendment will not have, believes co-founder of the payment service CloudPayments Constantine, Jan: the service was created in accordance with the requirements of the Central Bank and security standards developed by the payment systems.
Another important innovation proposed by the amendment — requirements for a foreign money transfer systems such as MoneyGram. This system is not registered in the securities register and does not fall under the regulation, although it uses a lot of Russians for cross-border transfers, says Obaev. The bill obliges foreign payment systems to have representation in Russia, to comply with the requirements of information security, etc.
The bill is not left unattended and Chinese payment services Alipay and WeChat Pay, which can only be used by citizens of the PRC. In Russia some banks accept Alipay and WeChat Pay — for Chinese tourists. The amendments stipulate requirements to the contract between banks and payment services, to information security. In addition, the bill prohibits the provision of means of payment, Alipay and WeChat Pay residents.
While Alipay is focused on creating the infrastructure for visitors from China and has no plans to launch the service for the Russians, said the General legal counsel of Ant Financial (controls Alipay) Lamin Chan in Sochi on Finopolis 19 Oct. The same policy holds and WeChat Pay: while they are available only to the Chinese themselves.
Comments Apple, Samsung, Google, payment system, MoneyGram, Tencent (WeChat Pay, it owns) and Ant Financial could not be obtained.
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