⚡️ "Biometric Payments" Coming to Russia 🇷🇺!

⚡️ "Biometric Payments" Coming to Russia 🇷🇺!


The Central Bank is developing a universal payment platform utilizing citizens' biometric data. Currently, only 12 banks in Russia can afford the necessary equipment and have the corresponding permission from the Ministry of Digitalization…

🚩 Regarding regulation, Russians previously had some freedom of choice regarding biometrics. They could allow a company to use their biometric data for payments while denying others.

🚩 ...But now everything is changing: for example, a customer chooses a biometric payment instrument. They provide their fingerprint, and a facial photo is taken. However, they can only proceed with the payment if they consent to this information being shared with all participants registered on the NSPK biometric services platform.

🚩 The unique biometric identifier is called EBS... Ebs, Carl. Those state-funded creatives should be reevaluated.

🚩 Additionally, it appears that Russians will be able to pay through banking systems even if they are not clients of those banks…

🚩 The project is currently in the pilot phase. NSPK is inviting banks to participate in closed trials… However, the "Financial Innovations" association has labeled the idea as "strange."

#news #Russia

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