General Director of NSPK: the problem with chips for bank cards in Russia has been solved

Vladimir Komlev, CEO of the National Payment Card System (NSPK), said that the shortage of chips that arose during the pandemic also affected the banking sector. However, according to Mr. Komlev, now the problem with chips in Russia has been largely resolved.

“In my opinion, so far Russian companies have been able to solve it quite effectively in the face of restrictions. By and large, the problem with chips in our country has now been resolved. We see what a serious amount of finished cards Russian manufacturers were able to ship in 2022,” the head of the NSPK said in an interview. “Interfax”.

The shortage of bank card chips worsened in the spring of 2022 after European suppliers refused to cooperate with the Russian Federation. “The cost of the card and its cost for banks have increased significantly over the past year,” Vladimir Komlev assessed the consequences of the shortage. He noted that the main difficulties may arise with an increase in prices and logistics, since foreign manufacturers are primarily focused on Asia.

After Visa and Mastercard left the market, the Russians appeared increased demand for reissuing cards. Sberbank re-launched amid shortages use chips from unclaimed plastic. Such technologies are available to the Russian card manufacturer, but experts warn that “recycling” cards leads to a high rate of rejects.

Sources in the card market reported that every year all Russian banks released about 150 million cards, including cards of international payment systems.

In early March 2022, amid a military operation, two of the largest players in the payment market, Visa and Mastercard, left the Russian market. Then the supply of chips to Russia restricted Taiwan.

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Maria Fedotova