The Russian government will begin issuing a universal identification and payment card this month. The card has been developed with the aim of streamlining the payment of pensions and taxes and can also be used like a bank card in stores, according to Russian news agency RIA Novosti.

Containing an electronic chip as well as the holder’s picture and digital signature, the card will facilitate the payment of household utilities, public transportation, prescriptions, or any other social and municipal purposes.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

It will be issued on request from January 2013 and issued to all citizens in 2014, except for those who submit a written refusal.

The Russian economics ministry estimated that this five year program,which also seeks to replace internal passports, will cost between RUB135bn and RUB165bn (USD4.4bn-USD5.4bn)

Related articles:

MasterCard plans Russian processing centre

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Russia’s credit repayments at two-year low