Many Russian banks are already working to smoothly replace cards of international payment systems Visa and Mastercard with Mir, but some credit institutions expect to complete the transition no later than 2030. RIA Novosti reported this on Saturday, June 20, referring to a survey of banks.
At the moment, the main card in Russia is “Mir” – its share in the transaction volume is 75 percent. Meanwhile, Visa and MasterCard cards issued before the sanctions were imposed continue to operate. Payments on it are provided by the operator of the Mir system, NSPK, which proposed a gradual reduction of the interbank bonus rate for making settlements on it.
Sberbank noted that it is impossible to replace this volume of cards in a short time.
“We believe that a smooth transition would be optimal until at least 2030, similar to the period set by the NSPK to withdraw expired Mir cards from circulation,” the reports said. an agency.
“Moscow Evening” found out from experts whether Visa and Mastercard can disappear from Russia and when this will happen.