Canada
This article was added by the user . TheWorldNews is not responsible for the content of the platform.

Russia's Sberbank is reusing bank card chips to deal with shortages

Article author:

Reuters

Reuters

Moscow — Russia's top lender Sberbank deactivates Thursday to address shortfalls caused by European suppliers suspending deliveries as sanctions fall on Russia and its banking sector He said he had begun to remove chips from his bank card.

Unprecedented western sanctions and supply chain disruptions to Moscow's actions in Ukraine have serious implications for access to certain Russian commodities, making the import of advanced technology a special challenge. It has become.

April's National Card Payment System (NSPK) does not have enough chips to meet the issuance demand for Russian homemade meal bank cards as European chip suppliers refused to partner with Russian banks. Said. Visa Inc and MasterCard Inc have ceased operations in Russia.

"Russia has begun to run out of chips for cards," Sberbank's head of cyber compliance, Olga McClassina, said at a payment security conference Thursday. "We were mainly working with European chip makers ... Currently, there is a big problem with logistics from Europe.

" In addition, as Visa and Mastercard have left the Russian market, no one Seems to have increased the demand for card issuance as he began reissuing and creating Mir cards. "

Maklashina says this scheme because 375,000 cards remain deactivated each month. Said that it saved 1 billion rubles ($ 15.86 million).

"Chips have become scarce and more expensive. A colleague at the issuing center has come up with an almost genius solution: re-transplanting a bank card chip," Maklashina said. Mr. says. "That is, I took the chip out of the card and started inserting it into a new card."

Maklashina said that Sberbank only gets chips from deactivated cards.

NSPK announced in April that it would ask a Chinese company to supply microprocessors for cards. ($ 1 = 63.0500 rubles) (Reported by Reuters, edited by Mark Trevelyan)