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EAEU central banks working on agreement on overseeing payment systems

Economy 22.10.2019 | 19:19

MINSK, 22 October (BelTA) – The central banks of the Eurasian Economic Union member states are about to finish work on the agreement on oversight over payment systems, BelTA learned from NBRB Deputy Chairman of the Board Dmitry Kalechits during the international forum on banking industry information technologies BANKIT on 22 October.

The official said: “The development of the agreement on payment oversight between the central banks of the EAEU member states is in the final stage.”

Dmitry Kalechits
Dmitry Kalechits

In his words, the signing of the agreement will facilitate the exchange of information about the operation of transboundary payment systems and the organization of joint oversight over payment system operators and participants. The agreement is designed to protect rights of consumers of payment services, increase their quality and security, Dmitry Kalechits added.

The working group on coordinating the development of national payment systems of the Eurasian Economic Union member states is discussing opportunities for cooperation in the area of instant payment systems and cybersecurity.

Dmitry Kalechits reminded that an instant payment system started working in Belarus on 1 July 2019. It can handle all kinds of payments, including taxes and customs payments. As many as 11 banks are connected to the system now. Since 1 July it has processed some 3,000 payments, with the average amount of money transferred per payment close to Br3,000. “We see a great potential for integrating instant payment systems with systems of other countries. We are discussing the matter with the central bank of the Russian Federation,” the official said.

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