The Central Bank will reduce the validity period of expired cards. This was announced by Alla Bakina, Director of the National Payment System Department of the Central Bank, at the Financial Congress in St. Petersburg.
Bakina said that the decision to extend the validity of the card was made so that people could use them. But now banks are gradually withdrawing expired cards from circulation, and their number is decreasing.
But now, as part of our work to combat fraud, the validity period of the card is one of the elements that also prevents fraudulent transactions. We are now looking at limiting this period. Because, firstly, not so many cards are left. And, in general, we see that the need for this is disappearing in the current conditions.
Sergey Panin, the leader of the technical standards development at the company, previously warned that operations on Mir cards with an expired validity period may be limited. This decision may be made before February 2026.
In the spring of 2022, after the international payment systems Visa and Mastercard ceased operations in Russia, NSPC and banks decided to extend the validity of issued cards or make them perpetual. Transactions on these cards continued to take place within the country, as they are processed by NSPC, not foreign companies. This decision was made due to concerns about a shortage of plastic cards and chips, which could arise due to sanctions and the need to urgently replace a large number of Visa and Mastercard cards with Mir cards.
Earlier it became known that the Central Bank may limit the number of bank cards per person. The measure is aimed at combating "drops" and will not affect bona fide customers.
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