The state Duma approved the transfer of budget on a card “the World”

The state Duma has approved in the first reading the bill on compulsory transfer of all budget and social payments on the cards of the national payment system in 2018.

“In order to ensure for clients-physical persons the possibility of obtaining cash payments into Bank accounts, which are not issued payment cards, it is proposed to provide that after 1 January 2018 and transferred to the Bank accounts of clients — individuals of all types of cash payments will be credited by credit institutions to Bank those clients,” — said in the explanatory note to the bill.

The amendments also provide that the number of participants in the system will include foreign banks and international financial institutions.

The Central Bank offered on Wednesday, February 22, to amend the bill a second reading. In particular, the regulator proposes to revise deadlines for card “the World” for seniors. “Card “the World” will be issued to them as of the expiration of the existing present cards. This process must be completed by 1 July 2020″, — stated in the proposals of the Central Bank.

Also, according to the proposals of the regulator, the new employees and retirees of the card “the World” must be issued from July 1, 2017. The head of the Central Bank Elvira Nabiullina said earlier that the infrastructure of the payment system is fully ready.

Existing state employees, the regulator offers to transfer card until July 1, 2018.

Earlier it became known that the public sector will be allowed to receive payment in cash through cash in case they don’t want to use the card “the World”. The agreement was reached between FAS and the Central Bank.

National payment card “the World” is available in under the national system of payment cards (nvqs). It was created in the summer of 2014, when international payment systems Visa and MasterCard stopped servicing cards came under sanctions banks.