In the midst of the ongoing war between Russia and Ukraine, China’s largest credit card brand Unionpay has become the latest financial services network to suspend its negotiations with the Russian banks after payment giants Visa and Mastercard closed down their services in the country fearing the devasting sanctions. As […]
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Russian bank working to issue China’s UnionPay, domestic MIR cards after Visa, Mastercard exit
Following the suspension of operations in Russia by payment giants Visa and Mastercard, Russia’s state-owned Sberbank announced on Sunday that it is working on issuing payment cards using China’s UnionPay and Russia’s domestic Mir payment systems, Russian media reported. Sberbank also said in the statement that the suspension of Visa […]