BAKU, Azerbaijan, February 2. Russian banks have begun to build a financial product exclusively for foreign nationals and perform tests of payment cards for international tourists, said Director of Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of Russia Nikita Kondratiev, Trend reports.
Kondratiev made the statement during the strategic session of the Russian Union of Travel Industry on inbound tourism.
"We are currently cooperating with interested banks. They are commencing the development of financial products for foreigners and have already begun the preliminary tests, rolling out cards customized for tourists," he noted.
In November 2023, information was presented by Deputy Minister of the Ministry of Economic Development of Russia Dmitriy Vakhrukov, indicating that payment cards for foreign tourists might be introduced in Russia in early 2024. He highlighted the current limitation, noting that foreigners currently cannot use bank cards for payments or hotel bookings in Russia.
Previously, Russia's Deputy Prime Minister for Tourism, Dmitry Chernyshenko, authorized the necessary agencies to investigate the viability of introducing a specific payment card for international visitors visiting Russia. He believes that this program could contribute to enhancing the tourist influx into various regions of Russia, particularly those historically gaining interest from international visitors.
