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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.
TRENDING: HORRIFIC! Prosecution Calls Teenage Kids of January 6’er to the Stand As Witnesses Against Him! THE BIDEN REGIME HAS NO CONSCIENCE! Exclusive Letter from Wife!! BREAKING: Russia’s state owned Sberbank is to replace VISA and MasterCard with a new “MIR” card system in partnership with China’s Unionpay. — Sunderland Global Media (@Sunderland_GM) March 6, 2022 According to far-left Wikipedia , “Mir does not itself issue cards, extend credit or set rates and fees for consumers rather Mir provides financial institutions with Mir-branded payment products that they then use to offer credit, debit, or other programs to their customers.”
Bloomberg reported: Sberbank PJSC said it’s looking at the possibility of issuing cards using Russian payments system Mir and China’s UnionPay after Visa Inc. and Mastercard Inc. suspended operations following the invasion of Ukraine. The move could allow Russians to make some payments overseas, with UnionPay operating in 180 countries and regions. Visa and Mastercard said that any transactions initiated with their cards issued in Russia will no longer work outside the country from March 10. Cards issued by domestic banks will continue to work in Russia using its payment system. Russia’s biggest lender Sberbank said it would announce timescales later. […]
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They’re Trying to Shut Us Down
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JD Rucker
