A single payment space for the countries of the Eurasian Economic Union (EAEU) may be formed by the end of 2019.

This was stated by National Payment Card System (NSPK) General Director Vladimir Komlev, and according to the results of the second working meeting of the heads of national payment systems and national banks of the CIS countries, the press service of the NSPK reports.

Komlev said each country has its own peculiarities of regulation, legislation, culture, and that they will have to deal with some matters within the framework of integration with other payment systems-participants in the working meeting. He added that they plan to complete the formation of a single payment space for the EAEU countries by the end of 2019.

Director of the Department of the National Payment System of the Bank of Russia, Alla Bakina, noted at the end of the meeting that its participants have already prepared a multilateral agreement in   supervision and monitoring of payment systems of the EAEU countries. Also, she expressed the hope that this document will be signed in the first half of 2018.

As the press service of the NSCK specified, the NSPK and Belcard payment system have signed an agreement on the intention to implement the interaction of payment systems of Belarus and Russia within the framework of the working meeting, and the roadmap for integration with the payment system of Kyrgyzstan Elkart was approved.

The Eurasian Economic Union comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.