Russia seeks electronic payments system compatible with China

MM

Melisande Mual

10 Nov 2016 / 5 Min Read

Russia has introduced a new national payment system to cut reliance on Visa and MasterCard. The current Russian payment system is called Mir, while China has a system called UnionPay.

Visa and MasterCard stopped providing services for payment transactions for clients at private lender Bank Rossiya, under US sanctions.

 

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MM

Melisande Mual

10 Nov 2016 / 5 Min Read

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