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The Financial Times has obtained documents that showcase Iran’s efforts to evade sanctions by using accounts at two of the UK’s largest banks.
banks, financial sanctions, regulation, compliance
The central banks of Russian and Iran have signed a deal to connect national interbank communication and transfer systems to spur trade and facilitate transactions.
online banking, mobile banking, money transfer, central bank, payments infrastructure
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
The Russian and Indian Governments have gotten closer to an agreement to have cards based on Russia’s Mir payment system be accepted at ATMs and POS in India.
Russia Ukraine War, financial sanctions, UPI, cross-border payments
Credit Bank of Moscow - MKB and Bank DOM.FR have announced that they are preparing to issue UnionPay cards starting with Q1 2023.
credit card, expansion, Issuer, financial sanctions, card scheme
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
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
Global payment processors and card issuers Visa and Mastercard have blocked multiple Russian financial institutions from their network, in compliance with the US government sanctions imposed over the ongoing war in Ukraine.
Russia Ukraine War, central bank, Visa, MasterCard, credit card, SWIFT, Swift messages, cross-border payments, regulation
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
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
VTB has developed a system that will improve the recognition of text requests from customers when contacting the bank through a chatbot.
artificial intelligence, banks, product upgrade
VTB and Wildberries have launched a new payment service system, VTB Pay.
retail, banks, mobile payments
VTB Online has introduced the option of free money transfers using a personal QR code.
banks, QR payments, digitalisation, money transfer
Russia-based VTB has launched an ecosystem of digital products and online services for doing business with foreign partners on a turnkey basis.
digital banking, online banking, settlement, cross-border payments
VTB, a Russia-based bank, has announced a plan to launch a joint project with Moscow metro to pay for metro rides using biometric data at all metro stations in October 2021.
mobile payments, biometrics, partnership
VTB Bank has offered customers the opportunity to issue debit cards for children from 6 years old.
banking, debit card, banks, product launch
Apple Pay, online payments, mobile payments
VTB and Visa have launched a service to pay for orders in the network of culinary shops based in Russia (KiO Kitchen) without using a smartphone or card.
partnership, Visa, biometrics, digitalisation
banks, partnership, e-invoicing, financial institutions
banks, digital banking