Russia's National Payment Card System (NPCS) will begin producing its own cards in December 2015, and plans to begin producing cards co-badged with Visa and MasterCard in 2016, the system's head, Vladimir Komlev, announced on Friday:
"If we're talking about the full-fledged acceptance of NPCS cards at the same scale as Visa and MasterCard, then the short-term and middle-term prospect is a co-badging program with these payment systems."
Visa is expected to miss the deadline, although the situation is not critical and plans have been made to certify all banks that use the Visa payment system and transfer them to the NCPS payment processing platform. At this time, 31 Russian banks have been certified, out of the almost 100 which use the Visa payment system.
Residents of Crimea and Sevastopol will gain access to the system later than the rest of the country, but are expected to do so by the end of 2015. In addition, Komlev is eying countries which have large numbers of tourists from Russia to be interested in the system, including Turkey, Egypt and Eurasian Economic Union countries.