Russia is in talks to enable full operation of its Mir payment cards in Southeast Asian countries like Thailand, Singapore, and Malaysia, according to Sergey Katyrin of the Russian Chamber of Commerce and Industry.
A Bank of Russia official urged Visa and Mastercard to leave the Russian market, citing their diminished functionality. Experts anticipate a gradual transition to Mir cards, ensuring user funds remain secure.
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.
