Why the regulator is against it
The idea of an alternative to the National Payment Card System (NSPK) has been discussed since 2023. At that time, major banks proposed creating parallel infrastructure, but the Central Bank emphasized that market participants should assess the economic feasibility of the project.
According to Bakina, the regulator's position is based on two key conditions:
- the new system should not duplicate the existing NSPK infrastructure;
- competition should be formed at the level of products and services, not infrastructure.
She also noted that any payment system must be universally accessible. At the same time, the "last mile" infrastructure is currently concentrated among dominant players, which raises additional questions.
Bakina stressed that creating a large-scale payment infrastructure would require significant costs, which would ultimately be passed on to end consumers. For this reason, the positions of the regulator and banks did not align.
Banks have not abandoned the idea
The topic of a second payment system gained momentum again in October 2025, when Vladimir Verkhoshinsky, Chief Executive Officer of Alfa-Bank, stated the need for an alternative to Mir. At that time, the Central Bank said it was ready to support the project if banks could agree among themselves.
On July 1, Vyacheslav Tsyganov, Executive Director of T-Bank, told Interfax that banks have not abandoned the idea. According to him, the moment may not be the most suitable now, but in a year or two, creating a new system is quite possible. He noted that the emergence of an alternative could foster competition.
What's next
The market continues to discuss the possibility of a second payment system, but the regulator's position remains unchanged: the project must be economically justified, non-duplicative, and accessible to all participants.