Payment infrastructure is being prepared for digital ruble

The Central Bank reports that a payment infrastructure is being prepared for the digital ruble. The regulator has also sent proposals to the Ministry of Finance to amend the legislation.

By July 1, 2025, the country's largest banks will have to allow their clients to conduct transactions with digital rubles: open and top up digital ruble accounts, make transfers and accept digital rubles in their infrastructure.

"From this point on, it is planned to launch the widespread use of the digital national currency. It is important that it is available to citizens and businesses and, if desired, they can freely use it on an equal basis with cash and non-cash money," the press service of the Bank of Russia explained.

The remaining banks with a universal license are given more time to finalize their systems - until July 1, 2026, and other credit institutions - until July 1, 2027.

It is planned to set deadlines for mandatory acceptance of payments in digital rubles for trade and service enterprises.

Trading and service companies with annual revenues of over 30 million rubles will have to accept digital payments from July 1, 2025, with revenues of over 20 million — from July 1, 2026, and all others — from July 1, 2027.

Payment for purchases with digital rubles will be made using a universal QR code based on the National Payment Card System, which will eliminate additional costs for banks and stores, the Central Bank emphasized.

“The digital ruble is a digital form of the national currency, created to expand the possibilities of payments and transfers. All transactions with digital rubles will be free for citizens. People and businesses will choose which form of ruble to use,” the regulator commented.

Author: Elina Akhmetova