Central Bank plans to launch SPB transfers with some EAEU countries

The Bank of Russia plans to implement intersystem interaction of the fast payment system by the end of 2023

with several countries of the EurasianEconomic Union (EAEU), RIA Novosti reports with reference to the regulator's draft "Main Directions for the Development of the Financial Market of the Russian Federation for 2023-2025". “The introduction of cross-border transfers using the FPS is also being worked out, separate operations have already been carried out according to one of the implementation schemes. By the end of 2023, it is planned to implement the intersystem interaction of the SBP with several countries of the EAEU,” the document says. Recall that the organization includes Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

The Bank of Russia plans to continue developingSBP services. “It is planned to scale the ability to make online payments through the SBP to the budget system of the Russian Federation (C2G), including for paying taxes, fines, fees and duties, contributing to the expansion of support for this service by credit institutions. It is also planned to implement a service in the SBP for making online payments to citizens by the state (G2C service), which will increase the efficiency of receiving payments from the budget, ”the agency quotes representatives of the Central Bank.