JSC NPCS and MasterCard LLC concluded agreement to transfer MasterCard cards transactions to NPCS processing

On 30 December 2014, JSC NPCS and MasterCard LLC concluded a bilateral agreement on operating and clearing services on domestic MasterCard payment system card transactions to be provided by NPCS processing centre.

The conclusion of this agreement enables to gradually transfer Russian domestic MasterCard card transactions to NPCS processing.

The Bank of Russia will carry out the functions of a settlement centre. JSC NPCS, the Bank of Russia and MasterCard LLC concluded a trilateral agreement determining the procedure for providing settlement services associated with the aforementioned operations.

The signing of these documents is an important practical step towards the implementation of the first stage of NPCS Strategy — establishing operational payment clearing centre for processing Russian domestic transactions through international payment system cards.

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