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The Russian payments market and the national system for card payments: An interview with Maria Mikhaylova


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The Russian payments industry is facing some challenges, as some legislation was passed in 2014 that required Russian payment transactions to be processed on Russian soil. In this interview Maria Mikhaylova, Executive Director of the Russian National Payment Council Association (representing about 95 per cent of the players in the Russian payments industry) talks about the payments market in Russia as well as the latest legislation. Last November, the National Payment Council Association organised the National Payments Forum of Russia, where these topics were also high on the agenda. In this interview, Maria shares some of the key takeaways from this Forum with us.
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Keywords: NPCS; National Card Scheme; Russian Federation; Russian National Payment Card System; Russian National Payment Council Association; Russian National Payments Forum; Zolotaya Korona

Document Type: Research Article

Publication date: March 1, 2015

More about this publication?
  • Journal of Payments Strategy & Systems publishes peer-reviewed articles and case studies analysing best practice, emerging issues and new thinking in how to develop a profitable, customer-focused payments strategy. It examines major issues facing the corporate, wholesale and retail payments industry from a business, risk and operational perspective.

    Edited by renowned payments expert Alec Nacamuli and guided by an eminent Editorial Board, each quarterly 100-page issue provides practical, detailed analysis of developments and trends in the payments business, regulation, new entrants and technologies and how to bring them all together to define your payments strategy, as well as actionable advice and ‘lessons learned’ from fellow professionals on how payment processing systems can be leveraged to maximise profitability, security and efficiency and minimise risk. It contains no advertising and no advertorial.

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