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Countries where the MIR payment system operates. 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.
What is ‘MIR’. Kirill Kuhmar/TASS. In 2014, after Crimea voted to join Russia in a referendum, the National Payment Card System (NPCS), the operator of ‘MIR’ cards, was created. The word ...
May 16, 2024 · More than 287.3 million Mir card were issued by the end of Q4 2023. They account for 56.0% of all domestic card transactions in Russia and 55.0% of debit and credit card issuance. Any citizen of Russia can apply for a Mir card.
Nov 19, 2022 · James Rogers. 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...
Jul 20, 2021 · Digital payment rails are becoming more important to national economies and how they control their payment ecosystems. Peter Keenan. 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.
Mar 29, 2022 · Business. Russia Built Parallel Payments System That Escaped Western Sanctions. Crimea sanctions spurred Russia to build its own Mir payments network, taking the sting out of Visa,...
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 if...
