Russia Plans Gradual Phase-Out of Visa and Mastercard Cards
Russia's central bank recommends that Visa and Mastercard exit the country, following a decline in their market share to 17% after they ceased processing transactions in Russia due to 2022 sanctions. The withdrawal will occur gradually, with users transitioning to Mir cards over time.
Russia's central bank recommends that Visa and Mastercard exit the country, according to TASS. This follows a decline in their market share to 17% after the companies stopped processing Russian transactions in response to 2022 sanctions. According to Bluesky, Russia's central bank will phase out Visa and Mastercard cards. TASS reported that the withdrawal will occur gradually, and users will transition to Mir cards over time.
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