Contents tagged with Visa

  • Kremlin: Russia prepares to part ways with Visa and Mastercard

    Russia is "hedging its risks" in the event of a disconnection from international payment systems, including Visa and Mastercard, said Russian presidential spokesman Dmitry Peskov.

    According to him, such a scenario "cannot be ruled out" given the "unfriendly and sometimes even hostile behavior" of Western countries.

    "Restrictions on Russia are used by a number of countries that as such an illegal from the international law point of view deterrent for Russia," Peskov said.

    He added that the …

  • Amid US sanctions Russia is trying to develop its own credit card payment system

    Russian Federation is intensifying development of the payment systems that would be independent from U.S. financial system as well as from using U.S. dollar as a base currency.

    Foreign Minister Sergei Ryabkov stated that an independent financial system “is becoming a vital need,” because otherwise Russia “will always be on the hook” of the United States of America.

    Russia has developed its own payment card called Mir (‘Peace’ or ‘World’ in translation from Russian), which is supposed to …