Major banks are set to be the first to offer digital rubles to their clients starting September 1, 2026. This initiative will allow customers to open accounts, make transfers, pay for goods and services, and conduct other transactions using digital rubles. The requirement will gradually extend to all banks by September 2028. The State Duma adopted the relevant law today.
Retailers with major bank affiliations and annual revenues exceeding ₽120 million will also need to accept digital ruble payments beginning September 1, 2026. By September 1, 2027, banks with a universal license and retail companies with annual revenues over ₽30 million must start processing digital ruble transactions. Remaining banks and retailers with revenues under ₽30 million are required to comply by September 1, 2028. Retail outlets with annual revenues below ₽5 million are exempt from accepting digital ruble payments.
The law also outlines timelines for launching a universal QR code based on the National Payment Card System’s solution. This code aims to simplify non-card payments for buyers and sellers while preventing confusion at checkout due to multiple QR codes. It will support various payment options like the Faster Payments System, bank platforms, buy-now-pay-later services, and eventually digital rubles. Customers will retain bonuses and discounts associated with their chosen payment method.
All banks must adapt their systems for the universal QR code option by September 1, 2026; however, they may do so earlier if desired.
The National Payment Card System (NPCS) will provide a fee-free universal QR code generation service for banks to reduce integration costs. The Bank of Russia Board of Directors will determine timelines for connecting retailers to this system.
Digital rubles will circulate alongside cash and non-cash rubles. Individuals can open digital wallets through conventional banking apps linked to the Bank of Russia’s platform without incurring transaction fees. Users have the discretion to choose whether or not they wish to use digital rubles.
For more details on the digital ruble, visit the Bank of Russia website.
