VTB announced its readiness to pay for travel in digital rubles

VTB is ready to pay for urban transport in digital rubles, said the head of the transaction business department, senior vice president Alexander Botsiev. The technology can be implemented after expanding the project to introduce such payment in the Moscow metro.

“In transport technology, our technologies based on SBP and card products are still working, but we really expect that the digital ruble will also implement the capabilities of smart contracts and offline settlements, when we will not need to conduct end-to-end transactions, but we can only do it on the basis of (digital— “Ъ”) wallet to understand whether the client has the required amount of funds,” said Mr. Botsiev TASS within the framework of the VTB investment forum “Russia Calling!”

This is how the senior vice president of the bank commented on testing the technology in the Moscow metro. He noted that transactions in the digital ruble have not yet been implemented, since pilot transfers are taking place without deep integration into the systems. Therefore, the project cannot yet be extended to a larger group of users.

In October, Moscow authorities announced the launch of sales of the Troika card in the metro using the digital ruble. It is expected that after the mass implementation of the technology, passengers will be able to directly pay for travel on public transport along with cash and non-cash money. 600 individuals, 13 banks and 30 companies were to take part in the experiment.

Read more about the experiment in the Kommersant FM article. “The digital ruble has descended into the metro”.

Leonid Uvarchev