Visa, Mastercard share in Russia drops to below 17% - central bank
L'essentiel
The share of Visa and Mastercard cards in Russia has fallen to less than 17% as banks gradually replace them with other payment instruments, including the domestic Mir cards, according to Alla Bakina, director of the Bank of Russia's department.
Résumé généré par IA
MOSCOW, May 25. /TASS/. The share of Visa and Mastercard cards continues declining in the Russian market and it is about 17% now, department director of the Bank of Russia Alla Bakina said.
"These payment systems (Visa and Mastercard – TASS) were removed from our market. The people had a sizable number of cards but the share of these instruments declined in the market during four – five years. The banks are performing the gradual substitution by other instruments, including Mir cards. Therefore, the National Card Payment System through economic incentivization measures is arriving at the withdrawal of these cards from the market," she noted.
The share of cards of Visa and Mastercard payment systems is "less than 17%" at present, Bakina added.
