Assessment of Visa payment system

Between 1 October 2018 and 25 March 2019, the Bank of Russia conducted, in accordance with Russian legislation, its regular assessment of Visa payment system, a systemically important payment system, for its compliance with the international standard ‘Principles for Financial Market Infrastructures’ (the Principles for FMIs). The Bank of Russia recommends that national important payment system operators be compliant with the standard developed by the Committee on Payments and Market Infrastructures of the Bank for International Settlements jointly with the International Organization of Securities Commissions.

The assessment confirms the Bank of Russia’s previous assessment findings that Visa payment system is highly compliant with the Principles for FMIs. Rankings of four principles were upgraded to the highest possible levels.

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