Russia’s central bank blocks Sberbank, Alfa-Bank, and T-Bank from creating their own payment system, RBC reports

Russia’s central bank has rejected a proposal by Sberbank, Alfa-Bank, and T-Bank to create their own payment system, the Russian business outlet RBC reported, citing sources. The paywalled article was summarized by Forbes Russia.

The regulator rejected every model the banks put forward, making clear there would be no alternative to the National Payment Card System (NSPK) in the Russian market, according to RBC.

The central bank rejected both the original concept, which was based on card payments, and a later version built around QR code payments, sources who spoke with RBC said.

Sberbank chief Herman Gref first floated the idea of an alternative payment system in the summer of 2023. Central Bank Governor Elvira Nabiullina said at the time that she had no objection to an additional payment instrument — but not an alternative one.

At a meeting between central bank representatives and bankers in May 2026, the regulator took a “firm” stance, one source told RBC. The central bank “had always been fundamentally opposed to the idea of a second payment system,” the source said.

Two sources who spoke with RBC said the banks are pressing ahead with the alternative payment system, including with people who previously worked at the NSPK. The central bank has invited the banks to participate in the corporatization of the NSPK.