Aggregated News From Investment Management Regulators

Anonymous digital wallets linked to transport cards may be refilled through 1 April 2021

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The Bank of Russia extends the period of non-application of measures against credit institutions conducting these refill transactions. Previously, the non-application period was to end on 1 October.

Thanks to the decision, transport system operators will have more time to adjust their business models, if necessary, aligning them with the national payment system law. In this way, the socially important service of having a transport card replenished with cash will remain available to consumers.

Following amendments, which became effective this August, anonymous (impersonal) digital wallets linked to transport cards can only be refilled with cash in limited cases. However, the ban did not extend to most active cards which are either directly issued by transport companies or refilled through them.

See PDF here: https://www.cbr.ru/statichtml/file/59420/20200917_in_04_45-135.pdf

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Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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