The NSPK reported expired security certificates from Visa and Mastercard

The planned gradual withdrawal of Visa and Mastercard bank cards from circulation in Russia is related to their expired security certificates. This was announced on October 8 by Dmitry Dubynin, Director General of the National Payment Card System (NSPK).

"If we are talking about cards of international payment systems, then since January 1 of this year, the security certificates in all chips have already ceased to be valid. This is a matter of the security of the means of payment," Dubynin said in an interview with RBC.

The planned limitation of expired cards implies a return to the model when the cards were urgent, he explained.

Currently, the NSPK is working on forming a common opinion of market participants in order to present it to the Bank of Russia in the future. It is expected that credit institutions will offer options for the withdrawal of expired cards from circulation.

Earlier, on July 3, Alla Bakina, head of the national payment system department of the regulator, said that the Central Bank of Russia wants to limit the validity period of expired bank cards. According to her, the card's validity period is one of the elements hindering the Bank of Russia's anti-fraud operations.

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