RSPP will launch a platform for confidential international payments

The Russian Union of Industrialists and Entrepreneurs (RSPP) plans to launch a prototype digital platform by the end of March, through which businesses will be able to make cross-border payments in a confidential manner. About it told Andrey Lisitsyn, Director of the Financial Policy and Financial Markets Department of the RSPP, in a comment RBC.

“We are now creating a platform for information and analytical interaction on cross-border settlements, which is designed to ensure the exchange of information in a confidential mode between corporations and financial organizations, as well as fintech companies about the needs and opportunities for making settlements in various currencies, as well as their directions,” – he said.

Companies using the platform will be able to indicate where and what currency they would like to send or receive from, and financial institutions – what transfer options they can offer businesses. Moreover, we are talking, among other things, about foreign financial organizations, Lisitsyn emphasized. The platform will be organized according to the principle “no one sees anyone”: only generalized information will be available to all participants, he noted.

RSPP, the platform operator, will inform the payment channel (financial organization or fintech company) about a specific business request. To reduce the risks of dishonesty, the platform will implement a system for assessing the financial stability of organizations joining it, Lisitsyn added.

In pilot mode, the platform will work until the end of March with the participation of up to 30 organizations.

Stock market expertBCS The World of Investments”, Yevgeny Mironyuk, in a commentary to RBC, pointed out that the very fact of connecting to such a platform can be used preventively as a pretext for imposing sanctions on a foreign counterparty, since the operations themselves will be difficult to track. According to Maksim Zagornov, director of the MKS group of companies, business has long needed the mechanism proposed by the RSPP, but for its implementation “a solution or coordinated work of both the banking and customs systems is needed.”

Lisitsyn also noted that the platform, in addition to practical use, will also provide an analytical basis for understanding “what currencies and directions are priorities for our economy.”