Mir Card Will Become Available to 70 Million Citizens Of The Russian Federation By 2020
Mir Card Will Become Available to 70 Million Citizens Of The Russian Federation By 2020
Mir, the Russian national payment system, which translates into peace or world in English was created shortly after American sanctions revealed the fragility of relying on outside, or foreign controlled, payment systems.
Mir is operated by a wholly owned subsidiary of the Bank of Russia.
The payment system will soon serve both civil servants and pensioners as a standard method of payment.
Last year the Chinese internet giant AliExpress became the first foreign company to accept payment through the new system. Also, McDonald's became the first American business to accept the new payment system.
Soon the cards will be accepted at all point of sale and automated teller machines throughout the Russian Federation.
Russian banks have already issued about 8 million cards and are on track to release another 20 million before the year ends.
At the St. Petersburg International Economic Forum there is much talk of the organic growth of this innovative payment system.
Last year the Chinese internet giant AliExpress became the first foreign company to accept payment through the new system. Also, McDonald's became the first American business to accept the new payment system.
Soon the cards will be accepted at all point of sale and automated teller machines throughout the Russian Federation.
Russian banks have already issued about 8 million cards and are on track to release another 20 million before the year ends.
At the St. Petersburg International Economic Forum there is much talk of the organic growth of this innovative payment system.
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