Leveraging 15 years of data across 43 markets, our award-winning resources and expertise provide impartial, up to date analysis on the issues shaping the future of payments.

Since the introduction of the new system, Russian banks have already issued more than 69.7 million MIR cards. PayXpert will become the unique acquirer of MIR … The payment system makes use of several security protocols, which we will introduce in this blog. MIR, russian payments. In the spring of 2015, in the course of the All-Russian creativity competition, the name MIR and the brand logo were chosen.

The Mir Payment system is a young Russian national payment card system that is making waves. Russia created its own card payment system in 2014 because it feared U.S. and European sanctions against some Russian banks and businesspeople over the …

Back then clients of several Russian banks were temporarily unable to use Visa and Mastercard due to the restrictions.

VTB also allows the use of MIR payment cards for withdrawals from its machines in Armenia and Belarus.

Our Account Managers will support you in the process of integrating Digital Payments Solutions to allow the best experience to your future Russian Customers. Radio Free Europe/Radio Liberty © 2020 RFE/RL, Inc. All Rights Reserved. In a December 7 statement, VTB said holders of the MIR cards can now withdraw cash from the bank's 85 ATMs and 40 cash-issuing points across Kazakhstan. The Mir Russian National Payment Card System was brainstormed in 2014 as a means to offer reliable … “Our ambition is to offer a cross-border solution that only includes Russian cards, but also alternative payment systems such as WeChat Pay and AliPay.”. Payments Cards & Mobile is the go-to market intelligence hub for global payments news, research and consulting.
MIR payment system, developed by Russia in response to Western sanctions, is set to hit the European market. Russia started developing its own national payment system when the US targeted it with sanctions in 2014. One of Russia's leading banks, VTB, says it has started to allow its automated teller machines (ATMs) in Kazakhstan to accept Russia's MIR payment cards. World Payments Report 2020: COVID-19 drives transformation, UnionPay accounts for 45% of global cards spending – Visa still on top, Why Apple’s payments business could be their next billions dollar revenue stream, Amazon Shopper Panel: snooping platform for purchases made at competitors, Visa Tap to Phone contactless payment platform goes live worldwide.

“The launch of our joint project with PayXpert is the first and foremost step in the development of MIR acquiring in Europe, which will lay the foundation for new promising trends in the foreign expansion of Russian payment cards,” said CEO of the MIR payment system Vladimir Komlev.

MIR is expected to open up access to the Russian consumer market and boost the turnover between Russia and the UK, as it will simplify payment transactions for customers of different companies. It will launch a pilot project at the Russian-British business forum in London on Wednesday. MIR Payment System.

MIR, the Russian payment system, launched in response to European and US sanctions, is reported to be preparing for launch in the European market.The reports say it will initially launch a pilot project at the Russian-British business forum in London. Thanks! National Payment Card System is the MIR Payment System operator. RFE/RL journalists report the news in 27 languages in 23 countries where a free press is banned by the government or not fully established. The tourist sector is also set to benefit from the project, since more than 40 million Russian tourists visit Europe annually. (file photo). Nicolas Riegert, CEO Group for PayXpert presented the launch of the Mir payment scheme in the UK at the Russian British Business Forum “Mir is a payment scheme, just like Visa and Mastercard, which was agreed upon in 2014 after Visa and Mastercard were restricted in Russia due to sanctions,” he said. MIR is accepted across Russia and enables its cardholders to perform the following types of transactions: Russians use bank cards in their travel trips, Million Russian citizens made outbound trips, Be attractive to >147 million Russian potential consumers, Access new Eastern European/Asian markets, Get the best currency exchange rate by MIR scheme, Russians remain as one of the highest spending populations in the world, Russians are shopping more and more online, opening up new opportunities for foreign retailers and brands, Russians are travelling and purchasing abroad more with each passing year, PayXpert is the first Acquirer in Europe and UK of MIR scheme, PayXpert is a regulated payment institution throughout Europe and the UK, Access to experts with knowledge of the Russian payment market, Innovative and secure technology to receive your payments from new market, Increase conversions with powerful monitoring and intelligence tools, +20 alternative payment methods integrated into our platform.
In 2014 the Central Bank of Russia established MIR as the national payment scheme.

Russia’s national payment system MIR looks to expand to Europe.