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Payment System Registered

By The Moscow Times

The Central Bank has registered Dengi@Mail.ru, an electronic payment system run by Internet company Mail.ru Group, as a nonprofit organization, the group said Tuesday.

The registration is expected to be completed on Aug. 7, said Andrei Yefimochkin, head of Dengi@Mail.ru's e-commerce department.

Under a law coming into effect in September, electronic payment systems are required to register either as nonprofit organizations or banks licensed by the Central Bank.

(MT)

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