Russia Moves Toward Phasing Out Visa and Mastercard Cards

Russia should move more quickly to remove Visa and Mastercard payment cards from circulation, according to Dmitry Dubynin, head of the National Payment Card System (NSPK), the operator of the Mir payment card network. Dubynin told Rossiyskaya Gazeta that extending the validity of Visa and Mastercard cards became critically important after the two international payment systems exited the Russian market. That decision helped prevent disruption for a large portion of the population and ensured the stable functioning of domestic payment transactions. Support Measures No Longer Considered Necessary According to Dubynin, the circumstances that justified extending the operational life of Visa and Mastercard cards no longer exist.