Russian Banks to Replace VISA and Mastercard with New “Mir” System in Partnership with China’s Union Pay
By Jim Hoft
Published March 6, 2022 at 5:30pm
The Central Bank of the Russian Federation announced on Sunday that several banks will switch to the Chinese card system following the suspension of Visa, Mastercard, and Paypal in Russia.
It can be recalled that Visa, Mastercard, and Paypal announced on Saturday they will suspend all operations in Russia.
“We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,” said Al Kelly, chairman and chief executive officer of Visa Inc.
On Sunday, several banks in Russia will start to issue new cards with the new Russian payments system “Mir” and China’s UnionPay.
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https://www.thegatewaypundit.com/2022/03/russian-banks-replace-visa-mastercard-new-mri-system-partnership-chinas-union-pay/