Finextra: Finextra news: Russian central bank issues new payment cards to take on Visa and MasterCard

Finextra: Thirty-five Russian banks have agreed to participate in the launch of a new national payments card intended to challenge the dominance of Visa and MasterCard.

Source: Finextra: Finextra news: Russian central bank issues new payment cards to take on Visa and MasterCard

From Russia with Love? Who knows. Russia just launched its on Mir card, an alternative to VISA/MasterCard and presumably to counter the threat of sanctions that could make Russian issued VISA/MasterCard worthless when being processed outside Russia. The Mir card might even partner up with China Union Pay’s network to gain a reach out to the international market.

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