UNISTREAM System Recognized As a Payment System of National Significance

On February 25, 2015 the Central Bank of Russia assigned to the UNISTREAM System the national significance status. It means that the regulator recognized that the system was in compliance with the former’s special requirements. 

The relevant entry was made to the register of payment system operators posted in the CBR website

According to the Federal Law “Concerning the National Payment System”, to enjoy such status, a payment system should comply with all the below-mentioned criteria:
- direct or indirect control on behalf of the Russian Federation, Central Bank of Russia (CBR), Russian Federation citizens; the procedure for establishing such control, as well as for preparation and filing with CBR of details of the established control is prescribed by CBR;
- compliance of the information technologies applied with the specifications set forth by CB as agreed with the government including the prescribed share of application of software developed by Russian companies; compliance with the requirements set forth in licensing agreements, with the payment card media and information protection requirements. 

Identification of nationally significant payment systems is meant to enhance the reliability of money transfers in the Russian Federation territory. 

“The nationally significant payment system status is another acknowledgement of the good quality of the UNISTREAM operations and of the system reliability, UNISTREAM CEO Kirill Palchun says. This status will let us strengthen our expansion in the domestic market of payments, in particular, payments for housing services and utilities. We are planning to develop this segment of services in 2015 very actively”. 

The assigned status of a nationally significant payment system confirms the technology intensive character of the UNISTREAM International Money Transfer System. To ensure a good quality and reliable functioning, we use our own solutions as the key IT infrastructure components and the best IT achievements existing in the market at present.
UNISTREAM was one of the first among the payment companies to set up a system for remote identification of personified customers applied both in the self-service and the retail segments, for example, in MegaFon phone shops.
In 2014, the volume of money transfers via the UNISTREAM system grew by 22% as compared to the previous year to reach Rb 200 bn. The number of transactions went up by 15% making 8.6 mn.

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