6th March, 2022
Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator’s system.
The new issues will be coupled with Russia’s own Mir network.
The move comes after Visa and MasterCard said they were suspending operations in Russia.
Announcements regarding the switch to UnionPay came on Sunday from Sberbank, Russia’s biggest lender, as well as Alfa Bank and Tinkoff.
Visa and Mastercard are American payment platforms.
Both announced Saturday they were suspending their services in Russia following Russia’s invasion of Ukraine.