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Russian banks will launch Mir cards in Turkey and the UAE using special terminals

October 28, 2022
in Daily News
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Two Russian banks have found a way to restart accepting Mir cards in "friendly" Turkey and the United Arab Emirates (UAE). Financial institutions intend to use the scheme with POS-terminals that accept card payments. It is reported by RBC with reference to sources in the financial market. Which banks are considering this option, the sources do not disclose.

The scheme assumes the presence of a “layout” in the person of a local partner: he will have to open an account in a Russian bank, which will receive funds from the sale of services, after which they will be transferred to the accounts of companies providing these services (hotels, souvenir shops, restaurants, etc.). d.). At the same time, the intermediary is obliged to install POS-terminals in retail outlets and service providers.

According to the publication, one bank intends to implement a similar scheme in Turkey, the other – in Turkey and the UAE. The reason for choosing these countries is simple: they are popular tourist destinations for Russians. One of the interlocutors said that his bank intends to place POS terminals in hotels, large stores and other popular tourist places:

“We see demand in countries where the flow of our tourists has been preserved and grown. We are considering the possibility of servicing foreign trade and service enterprises.”

The scheme is already being tested by banks and may soon begin to fully work. Officially, representatives of the Central Bank and the National Payment Card System (NSPK, serves and owns Mir cards) declined to comment.

Problems with the operation of the Mir system cards intensified after the EU and the United States threatened countries with secondary sanctions for cooperation with the Russian system. After that, Turkish, Kazakh, Armenian, Vietnamese and Kyrgyz banks refused to accept Mir cards. Without problems, Mir cards can now be paid only within Russia. For payments abroad, it is worth having either a foreign bank card or cash. The only market where Mir cards will be able to earn in the near future may be Iran, but no specific dates have yet been announced.

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