Bank St. Petersburg recently implemented an electronic payment system, allowing customers to make online transactions using credit cards.

The new payment system comes into effect under the provisions of Article 9 of Federal Law No. 161-FZ, "On the national payment system," of June 27, 2011.

Under the provisions, the bank is not obliged to reimburse a customer for a credit card transaction without the consent of the client unless the client reports a disagreement with the transaction no later than the day following the receipt of notice from the bank.

Customers without internet banking services will be notified of bank card transactions on paper the day after the transaction is carried out.

Founded in 1990 in St. Petersburg, the bank is one of the 50 largest in Russia in terms of net assets. It is listed on the Moscow Exchange.

Alexander Savelyev is the chairman of the bank's management board.