Visa And MasterCard Are Suspending Services To Sanctioned Russian Banks

See on Scoop.itMoney & Payments

Russia may develop its own card payment system.

Faisal Khan‘s insight:

Poke the bear a bit too much and there is bound to be a reaction. If China joins Russia with the card payment system this can be big blow to the giants Visa and Mastercard. Think Africa (which China literally has 1000s of inroad in), would love to hop to an alternative payment network. Add India to the mix and you have a very, very powerful network. 

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This page was last updated on July 23, 2015.

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