EXIMBANK OF RUSSIA: Demand for Digital Payment Systems is Growing in Foreign Trade

As the global economy and financial system change, digital infrastructure and alternative payment methods are becoming increasingly popular among foreign trade participants. This was stated by Petr Zaselsky, Chairman of the Board of EXIMBANK OF RUSSIA (REC Group), on the sidelines of the Made in Russia International Export Forum.

“Amid irreversible changes in the global economy, demand is growing for digital solutions that can simplify and accelerate foreign economic activity. The key advantage of new technologies is the creation of more sustainable models of interaction that are independent of control of any single participant. With the growing demand for settlements in national currencies, innovations are especially in demand: legally secure multicurrency solutions, automated settlements through smart contracts, and AI analytics for assessing currency and regulatory risks. These technologies are no longer just an option. They are becoming a necessity for businesses focused on export, import, and cross-border cooperation,” Petr Zaselsky at the Transformation of the Global Economy. International Settlements session.

In turn, EXIMBANK, by expanding its target audience for support, is addressing the challenges of replicating financial and settlement instruments. “Our flagship payment product is a payment platform that enables payment solutions to any jurisdiction, as well as secure settlements that are transparent not only for clients but also for the government. Payment services to China are also very popular, as this country is a strategic partner of the Russian Federation,” Petr Zaselsky.

Made in Russia International Export Forum is a key event of the year for Russian exporters. The Forum is organized by Russian Export Center. The Moscow Government is the business program partner. RIA Novosti is General Information Partner. Information partners include TASS, Channel One, Rossiya24, MAER Media, Vedomosti, Expert, Gazprom Media, and Insight People. Roscongress Foundation is the operator of the Forum's business program.