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30 November 2022, 09:57

Belarus to reduce dependence on card payment systems

MINSK, 30 November (BelTA) – Belarus seeks to reduce dependence on card payment systems. This is envisaged by the main monetary management guidelines for the year 2023 approved by the presidential decree, BelTA has learned.

“The development of alternative payment methods and the reduction of dependence on payment systems using bank cards, including international ones, will be priority areas of work in the payment market,” reads the chapter on the formation of a transparent and comfortable business environment.

In 2023, there are plans to launch a service allowing instant payments between individuals within Belarus, as well as instant cross-border payments through the interaction of the instant payment system of the National Bank and the fast payment system of the Central Bank of the Russian Federation.

“In addition, there are plans to start expanding the functionality of the instant payment system. In particular, individuals will be able to pay for goods (works, services) to legal entities and individual entrepreneurs, while legal entities and individual entrepreneurs will be able to transfer payments to individuals. Individuals will be able to use the instant payment system to pay taxes and other fees to government agencies,” read the main monetary management guidelines.

Work will also continue to improve the methods of exchanging financial information when making foreign exchange transactions on the territory of Belarus.

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