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Mir (Russian: Мир, IPA:; lit. ' the world ' or ' peace ') is a Russian card payment system for electronic fund transfers established by the Central Bank of Russia under a law adopted on 1 May 2017.
Visa and Mastercard debit and credit cards issued by Russian banks will no longer work abroad. Meanwhile, Russia’s ‘MIR’ payment system is becoming the main domestic payment system.
Jun 14, 2024 · As of 1 January the national payments system comprises 27 payment systems, 362 money transfer operators. The Bank of Russia ensures the stability and smooth functioning of the national payment system. It also provides the necessary infrastructure for cashless settlements in the Russian Federation.
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Nov 19, 2022 · Following the Russian invasion of Ukraine, U.S. companies such as Visa and Mastercard were quick cut links with Russia’s Mir payment system, but the network’s overseas reach remains under scrutiny
Jul 20, 2021 · Known as ‘Mir’, the development trajectory of Russia’s national payment system has been astronomical. The first Russian banks began issuing Mir cards under a pilot project in late 2015. A year later, more than 1.75 million cards had been issued, jumping to 19 million by the final quarter of 2017, according to data from state news agency TASS.
Mir is a Russian card payment system for electronic fund transfers established by the Central Bank of Russia under a law adopted on 1 May 2017. The system was developed by Belgian digital payments company OpenWay and is operated by the Russian National Card Payment System, a wholly owned subsidiary of the Central Bank of Russia.
Mar 16, 2022 · Mir, meaning 'peace' or 'world' in Russian, is a payment system in the Russian Federation. Mostly, it is used for bank transfers and initially all welfare and pension payments go through the Mir...
Apr 20, 2022 · A digital wallet, Mir Pay, launched in 2019, continues to operate on Android devices. Taken together, these systems mean that for many Russians domestic transactions have kept flowing, even...
Nov 22, 2022 · Russia’s international ambitions for its homegrown alternative to Visa and Mastercard have been dashed as even some of its closest allies have dropped its Mir payment system following a threat by...
Jul 20, 2021 · Russia's card payment system Mir, which was set up in 2015 after the West imposed sanctions on Moscow, is now connected to Apple Pay , the card issuer said on Tuesday.
