Cash lodgements to impersonal digital wallets banned; transport and school cards unaffected
3 August 2020
News
The amendments to the National Payment System law, effective from 3 August, impose restrictions on cash lodgements to impersonal (anonymous) digital wallets. However, the new rules will not extend to transport cards issued by or recharged by transport companies. Nor will the restrictions affect school cards (these cards are not anonymous).
The Bank of Russia is in contact with all major transport card operators to ensure availability of cash lodgements as a service. In cases where an operator’s internal system setting is such that card recharging does not occur through the transport company (so the amendments to the National Payment System law apply), operators have until 1 October 2020 to make corrections to their business models.
Preview photo: Shutterstock / Fotodom