Support The Moscow Times!

Payment System Bill Signed

President Dmitry Medvedev signed into law a bill on the national payment system Monday allowing international payment systems such as Visa and MasterCard to have processing centers outside Russia.

This comes after months of arguments over fears that Russians will not be able to use MasterCard and Visa cards should the law be passed in one of its versions.

The new law also provides a definition of electronic money, regulates so-called mobile payments, defines the structure of the national payment system and regulates the activities of organizations employed in money transfers.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.