Russia’s Mir credit card to go European

Bron: https://www.rt.com/business/360782-national-payment-mir-europe/

Russia’s Mir credit card to go European
The new Mir charge cards, which are part of Russia’s national payment system (NSPK), could soon be used across Europe, the head of NSPK Vladimir Komlev said in an interview with Russian newspaper Izvestia.

According to Komlev, the international acceptance of Mir shows the system’s maturity, and agreements have been signed with MasterCard, JCB, AmEX and the Union Pay payment systems.

“We are in talks with Visa. World payment systems already view us as an interesting partner because NSPK has managed to ensure a wide network for a functioning national card in the short period of a year,” Komlev said.

Russia will be able to promote its produce and brands through co-badged international systems, according to the head of NSPK. Mir cards will soon be accepted by online payment platform Alipay, and there are plans to connect to eBay, he added.

“Three major West European processors (including from France and Germany), have expressed an interest to collaborating with NSPK. They have approached us themselves. European retailers want to motivate Russians via the Russian payment system,” said Komlev.

READ MORE: Russia to issue 30mn national payment cards in 2016 – CBR head

The Mir payment system was introduced last year after clients of several Russian banks (SMP Bank, InvestCapitalBank, Russia Bank and Sobinbank) were unable to use Visa and MasterCard due to US sanctions. Customers found the bank issued credit cards linked to the Visa and MasterCard systems no longer worked.

Last week, Russia’s biggest bank Sberbank began servicing Mir cards at cash machines, retail and service points as part of its integration into the Mir national payment system. The bank said there are more than 80,000 terminals that accept Mir cards at retail and service points, and that it plans to provide 100 percent acceptance of the cards within its payment infrastructure by early 2017.

According to the Bank of Russia, 30 million Mir cards are planned to be issued this year.

 Conversation:

 The Russian word “мир” has two translations: 1. world 2. peace
  • And it also means world/universe. I think it’s a good name with either meaning.
  • There are even names with mir, for example Miroslav or Slavomir.
  • Also “society”, “community” and “gathering”. Although these are less common in modern Russian language.
 Sooner or later, something like this would happen. The European players will have to choose between sticking to sanctions and stay out of the game or participating in the Russian market…
Reply
  • hopefully they will have the balls to make the right choice!
  • People, yes. Their governments, no. No balls!
  • Great news for Russians around the world!!!
  • Make it available in BRIC countries.
  • In fact, it can also be manufactured for the market of Iran (80 million people), for example, as they have restrictions from American companies.
I hope in the future, Russia economy will surpass US and raise again even today Russia face sanction from those americunt. It’s time to kicking americunt bu++.
  • it is difficult. On the long term, if Russia is successful diversifying its economy and keeping a good management of its budget (now with a very low Public Debt, and increasing forex and gold reserves), it could surpass US income per head…but probably not US GDP as the population of the US is 324 million people compared to 146 million people from Russia. Even if on theory everything is possible. U.S population was just 1/3 of the UK in 1776 while now it is 5 times bigger. So, if Russian demographics improve more than American ones on the future, if many areas of Russia become arable as a consequence of global warming, being next to Europe and China…
  • Well, it depends on economic situation in US. Once doubts in US economic stability are raised, the decline can be quite rapid- first, outflow of capitals, followed by outflow of brains (60+% are not born americans, ready to repatriate if same benefits are proposed), jump in jobless rate- and here we are, GDP goes in cellar.
  • Yeah, but it will be a very distant and optimistic future. I keep hearing Putin and the rest of the government talking about “diversification and getting off the oil needle”- for the past 10 years at least. And so far, not much has been done. The moment the oil price drops, ruble plummets.
Can you imagine a world without Russia? I know, no one could.
  • sounds peaceful
  • West chooses war and confrontation with Russia, and the rest of the world wants to be friends and trade with Russia. Europe has already felt the effect of the sanctions. Time will tell, who is right – East, or West.
  • This will be a credit card with a history– as MIR means both ‘world’ and ‘peace’…. no other CC I know of, loosely translated, one can call world peace…. fascinating…
  • Mir cards can be successful in different markets, not just for Russians but for any country without a national payment card (as are the overwhelming majority in the World)
  • bring it to ireland please !!!
  • Nice news. Congratulations and good luck!
  • I was just watching a documentary where Putin said that Western sanctions were actually helping Russia in the long term by forcing it to develop it’s own equivalents to everything that the West offered. Looks like he was right..
    So business is still going OK. There’s no blockage on Russian credit card system? I’ll get one then.
  • Is it not obvious just 4 days ago the world of geo politics shifted a little bit.
  • ‘immigrants’ are the one who built america a wealthy nation , English language also played a major role in migration , I feel Thats something Russia cant afford to do that..   Hope trump and his ‘wall’ , ‘ban on immigrants’ will support others  countries economically  , at least it would put an end to American companies pouching valuable human resource 🙂
  • Is the card using SWIFT to complete transactions, is so the US has control….
  • Sanctions has really helped shift the Russian economy from consuming to providing economy. The US can roast for all I care.
  • Where do I sign up , ill gladly bin the master card and visa card for one of these that should annoy my british bank
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