Those who were sanctioned upon sanction and left in an economically difficult situation Russia, Recently Visa and MasterCard lost its support. Cards of Russian citizens and issued by Russian banks Visa with MasterCard based cards are no longer available and this is expected to be a major problem. The Russian administration, on the other hand, made an agreement to at least mitigate this.
Russia Turns To Unionpay
Russian banks will later become China’s credit card manufacturers. UnionpayIt can start issuing cards of . According to information from Russian news sources, the Central Bank of Russia has already approved such an agreement and it is thought that Russian banks are currently working on it.
Russian banks also use the local payment system Mir. International payments on Visa-based cards will be disabled from March 10.
Unionpay is known as a card service provider active in 180 countries and regions. Unionpay, which currently serves several Russian financial institutions, will now take on the entire burden of Russia, which has completely abandoned Visa and Mastercard.
Russia’s largest bank Sberbank is currently working on a system where Mir and Unionpay can be used simultaneously. The country’s largest private bank, Alfa Bank, may have started issuing UnionPay cards.