Türkiye and Russia developing new payment system

An alternative to Russia’s Mir could be developed by summer, an ambassador announced Moscow and Ankara are working on an alternative to replace the Russian payment system Mir after the US threatened Türkiye with sanctions for servicing its cards, Russia’s ambassador there, Aleksey Yerkhov, said on Thursday. Mir was developed by the Central Bank of Russia in 2014 as a domestic alternative to Visa and Mastercard, after the first round of sanctions had been imposed on Moscow. Mir cards had been accepted in Türkiye, Vietnam, Armenia, South Korea, Uzbekistan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, South Ossetia,

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Last updated : 11 February 2023 clock 08:32 AM

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