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US and UK authorities have analysed cryptocurrency transactions exceeding USD 20 billion that flowed through a Russia-based virtual exchange.
cryptocurrency, financial sanctions, cryptocurrency exchange, transactions , compliance, regulation
Russia-based Sberbank has confirmed its participation in the digital ruble pilot spearheaded by the Russian Central Bank.
CBDC, partnership, central bank, banks, cryptocurrency
Swift Go has been launched in 2021 as a solution for completing low-value cross-border payments, and there are over 600 banks that support it.
SWIFT, cross-border payments, FX , banks, payment processing
Russia-based Sberbank has announced that in February 2022 it will launch one its largest Pay Sticker technology mass testing, offered to users free of charge.
mobile payments, product launch, NFC, payment methods, Sberbank
Russia-based VTB Bank has suffered the largest cyber-attack in its history and is having technical difficulties as a result.
hacking, banks, online security, data breaches
BNY Mellon has facilitated one of the first fully transparent payment transaction between Egypt and China.
transactions , cross-border payments, banks, financial institutions, SMEs
Kledjona Mollaj, Consultant at Be | Shaping the Future UK, discusses the latest changes in Russia’s internal payment system and the challenges faced by the government amid the invasion of Ukraine.
Russia Ukraine War, local payment method, remittance, SWIFT, debit card, credit card, Issuer, central bank, mobile payments, online payments
The Central Bank issued a statistical bulletin informing that the number of issued bank cards in Russia in the first quarter of 2022 increased by 12 million.
central bank, Russia Ukraine War, report, credit card, Issuer, card scheme, expansion
Russia-based Sberbank has started removing chips from un-activated cards to combat shortage after European suppliers halted deliveries based on EU sanctions imposed on the country amid the ongoing Ukraine invasion.
Russia Ukraine War, financial sanctions, credit card, debit card, card scheme
Dmitry Yatskaer, CTO of digital banking and payment software provider OpenWay, shares the company’s experience in supporting card issuers and merchant acquirers in their journey to the cloud
digital banking, ecommerce, cloud services, cloud payments, PCI compliance
Russia’s central bank has granted lender Sberbank a license to issue and exchange digital assets, Bloomberg reports.
Sberbank, digital assets, digital currency, cryptocurrency, blockchain
The Paypers has compiled thorough research on the financial sanctions imposed on the Russian Federation in the last two weeks. We aimed to help create a clearer picture of the complex economic machinations that the global payments, banking, and ecommerce ecosystems are faced with
Russia Ukraine War, European Commission, Visa, MasterCard, American Express, central bank, financial sanctions
The central bank of Russia has announced that the Visa and Mastercard payment systems will stop functioning and some local lenders would look to use China’s UnionPay system instead.
MasterCard, Visa, UnionPay, payment processing, Russia Ukraine War, Issuer
European Union ambassadors have agreed to exclude seven Russian banks from the SWIFT system, but spared Sberbank and a bank part-owned by Russian Gazprom.
regulation, banks, SWIFT, Russia Ukraine War, financial institutions
The European Central Bank (ECB) has warned that the European arm of Sberbank faces failure, after a run on its deposits sparked by the backlash from Russia's invasion of Ukraine, Reuters states.
Russia Ukraine War, central bank, ECB, Sberbank, SWIFT, regulation
Russia-based lender Sberbank has launched money transfers to Alipay wallets in China using phone numbers.
Sberbank, partnership, Alipay, mobile money
Washington and other Western capitals have warned Moscow of strong economic repercussions if Russia invades Ukraine and cutting Russia off from SWIFT.
SWIFT, banks, financial services
A subsidiary of Russia-based MTS has acquired Netherlands-based facial recognition company VisionLabs for USD 95.4 million.
facial recognition, acquisition, digital identity, biometric authentication, biometrics
Belgium-based SWIFT has announced the launch of SWIFT Go, a new service that enables small businesses and consumers to send cross-border payments directly from their bank accounts.
SWIFT, cross-border payments, online payments, instant payments
Apple Pay, online payments, mobile payments