Izvestia: SBP is working on cross-border transfers to Armenia and Kazakhstan

Armenia and Kazakhstan may become new directions for cross-border transfers through the fast payment system (FPS). About it “Izvestia” told two sources in the payment market. The Bank of Russia announced that they intend to launch the project at the end of 2022. First of all, transfers to Belarus will be tested.

According to one of the sources, Russian banks are testing work with a national service clearing center, which, in turn, interacts with foreign systems. He stated that transfers to other EAEU countries are being worked out in this way. According to another source, work on transfers through the FPS with Armenia and Kazakhstan is still only at an early stage.

The project of cross-border transfers through the FPS to the EAEU countries has been developed since 2019. “b” interrogated banks participating in the SBP. According to them, first of all, we will talk about transfers between individuals by phone number. Thus, both the sender and the recipient will initially need to have a bank account.

More about the project – in the material “Fast payments are ringing Eurasia”.

Anastasia Larina