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Russian government works on national payment system

Thursday 18 February 2010 11:53 CET | News

By 31 March 2010, President Dmitry Medvedev, Prime Minister Vladimir Putin and Finance Minister Alexei Kudrin are to present a draft law on a card-based payment system to the Parliament, Russian Information Agency Novosti reports.

According to the plan, Russian customers may receive identity cards from the government, which will combine the features of a social security card with those of a bank card. The cards will be embedded with microchips that contain the holders personal information, enabling Russians to pay taxes, draw pensions and purchase products in brick-and-mortar shops.


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Keywords: payment system, cards, microchip, identity card, bank card
Categories: Payments & Commerce
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Countries: World
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