Meeting of the working group on coordination of national payment systems
On 25 June 2019, the Bank of Russia held the 7th meeting of the working group on coordination of national payment systems.
The meeting was attended by the representatives of the Bank of Russia, the Central Bank of the Republic of Armenia, the National Bank of the Republic of Belarus, the National Bank of the Republic of Kazakhstan, and the National Bank of the Kyrgyz Republic.
The main objective of the working group is developing the EAEU payment space using new technologies and services.
Meeting participants agreed that it is reasonable to discuss the development and integration of faster payments systems.
During the discussion, meeting participants defined the approaches to harmonise notions and terms in the sphere of financial technologies, and their characteristics. The parties also agreed to address the issue of unification of open API standards that are currently being developed.
Moreover, in the course of the meeting, current steps aimed at creating the common financial market were discussed and the results of joint activity in the principal areas were summarised. Among them are the cooperation in the sphere of national payment card systems, implementation of ISO 20022 standard, development of financial technologies, and cyber security.
It is also planned to continue the work aimed at increasing the accessibility, quality and security of payment services within the EAEU.
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