On assessment of MasterCard payment system

Pursuant to Federal Law No. 161-FZ, dated 27 June 2011, ‘On the National Payment System’, the Bank of Russia assessed MasterCard, a socially important payment system, for compliance with the international standard ‘Principles for Financial Market Infrastructures’ (PFMI) by the Committee on Payment and Settlement Systems of the Bank for International Settlements and the International Organization of Securities Commissions. The Bank of Russia recommends that systemically and socially important payment systems comply with the standard.

MasterCard payment system was assessed for compliance with this standard using the method established by the Bank of Russia to assess socially important payment systems.

The outcomes prove high level of compliance of MasterCard payment system with the PFMI. The assessment failed to reveal incompliance with any principles.

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27.05.2016 00.00.00