VSK Insurance House jointly with DOM Bank conducted a pilot transaction using the digital ruble, a payment instrument being developed by the Bank of Russia. As part of the testing, an insurance policy was purchased, as well as a mechanism for refunding funds to a digital wallet.

Member of the DOM Bank pilot group.The Russian Federation issued an insurance policy and paid for it in digital rubles. The operation was performed normally, confirming the success of the digital ruble. “In addition, a refund was made to a digital wallet, which demonstrates the flexibility and reliability of the new payment system,” the report says.

“Bank HOUSE.The Russian Federation was one of the first to join the piloting of the digital ruble of the Bank of Russia. We have already tested all possible banking operations, and now we have started organizing interaction with other participants in the financial industry. The use of the digital ruble is a completely new level of development of the country’s payment infrastructure, which will make daily transactions even more profitable and secure,” said the Deputy Chairman of the Board of DOM Bank.Russian Federation Nikolay Kozak.

“We expect that payments in digital rubles will become as commonplace for us as cash and non-cash payments, will be convenient and beneficial for businesses, citizens and the state. Each test is an important step in the development of the service and preparation for the launch of its mass use. In the future, the digital ruble will provide opportunities for the introduction of innovative and reliable payment solutions in the field of financial services,” said Olga Sorokina, member of the Board of Directors of the VSK Insurance House.

The digital ruble is the third form of money along with cash and non–cash funds. Transactions with the new form of currency will practically not depend on the restrictions of banks in the form of fees and limits: they will be completely free for citizens, and with a minimum commission for businesses.

Right line was one of the first companies in the country to develop a solution for connecting banks to the digital ruble platform and has been involved in testing it since the first day of the pilot. The team builds interaction with banks, helps them connect to the platform through PCR-Connect, adapts IT systems to the latest versions of electronic messages and accompanies the passage of technological tests (TIV). The Right line solution includes all the necessary set of services for full-fledged work with the new form of national currency.

Source: VSK Insurance House