E-money sphere becomes attractive for investors

Several dozen cash register systems can be launched in Russia till the end of 2012. The first deputy chairman of the Central Bank of Russia Vladislaw Kontorovitch is certain that legalization of activity in e-money sphere makes this sphere attractive for investors.

“The law about national cash register system legalized activity in e-money sphere and if earlier such activity could be easily called illegal, now it is found in the legal space and it means business circles can start investing money in it” – he stated, talking to journalists within the frames of the all-Russian bank conference “Ural forum: informational bank security”, held in Bashkortostan now. The problem of functioning of the all-Russian cash register system in the light of the corresponding federal law, which has come into force in September 2011, became the key one at the traditional bank forum. In opinion of M-r Kontorovitch the most interesting things can occur when in accordance with the law the Central Bank of Russia will start supervising the sphere of cash register systems and registration of these systems will begin within the frames of this supervision.

“Now we have just preliminary assessments” – Vladislaw Kontorovitch mentioned – “And in accordance with one of such assessments about 50-70 cash register systems can be launched in the country by the end of this year”.

As M-r Kontorovitch reported, at present time some clauses of the law concerning the national cash register system are found in the process of detailed elaboration in order to bring these clauses in conformity with foreign legislation.

“To my mind our legislation has rather declarative character now, i.e. everybody can read in it what he wants to see and it means that our legislation in this sphere will be formed in the process of court precedents” – he mentioned – “Besides, in my opinion the law at present time is too shifted to responsibility of banks, as compared with responsibility of bank clients, but the law has to protect both banks and clients, I’d like to underscore, conscientious banks and conscientious clients”.