Payments via government services portals to become more accessible

Today, transactions are carried out by a restricted number of banks. The Bank of Russia suggested ensuring the possibility for any bank to plug into the payment gateway of the Common Portal to carry out relevant payments.

The initiative also applies to fees and other payments made via regional and institutional government and municipal services portals.

This will ensure larger flow of online payments for government and municipal services. In addition, this measure will boost competition between issuing banks and facilitate closer cooperation between governmental agencies and financial sector.

The Bank of Russia’s call was backed up by the Ministry of Finance and the Ministry of Telecom and Mass Communications. The implementation of this measure will become another important step in developing electronic communications in the financial market.