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New modes of international cooperation: how are they going to pay?

4 May 2022
Международное сотрудничество по-новому: как будут платить?

Given the context of the Western sanctions, it is necessary to actively develop national payment systems in different countries. The 25th anniversary St. Petersburg International Economic Forum will host a session entitled "New modes of international cooperation: how are they going to pay?" which will discuss opportunities for cooperation in new geopolitical directions.

Although the share of national payment systems in the settlements of various states is gradually growing, it still remains relatively low compared to global players. The positive dynamics of the global payment card market, high level of payment infrastructure development and the growing decrease in dependence on American and European payment systems until recently allowed forecasting the strengthening of both national payment systems and international cooperation in this sphere.

In the new environment, the development of NPS is becoming an economic priority for many countries. As a result, it is the consumers who should benefit: they will have the freedom to make the usual financial transactions, regardless of which country in the world he/she is in. The session participants will discuss how to achieve this goal and remain resilient to any geopolitical processes.

"The National Card Payment System continues to ensure stable domestic payments on all cards issued in our country, but also to create and develop new payment services and technologies available to Russian residents. International development remains an important area for us, as well as expansion of international coverage of the Mir cards in the countries where it is present, and connection of new participants in other states that express their interest," noted Vladimir Komlev, General Director of the National Card Payment System (NCPS, operator of the Mir payment system, operational payment and clearing center of the Rapid Payments System).

St. Petersburg International Economic Forum will take place 15–18 June 2022 in ExpoForum exhibition and convention centre. 

All news about the preparation of SPIEF-2022 is in the official social networks of the forum.