Iran to start accepting Russian Mir payment cards soon -official - Reuters

guduka.blogspot.com

The logo of MIR payment system is on display at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 2, 2021. REUTERS/Evgenia Novozhenina/File Photo

• Summary
• Companies

• This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, July 27 (Reuters) - Iran will soon start accepting payments made with Russia's Mir bank cards, a top official was quoted by Russia's RIA news agency as saying, making it the latest country to adopt the Russian-made alternative to Visa (V.N) and Mastercard (MA.N).

"I think this payment system will be activated in Iran soon," RIA quoted Iranian Deputy Foreign Minister for Economic Diplomacy Medhi Safari as saying on Wednesday.

Moscow has acted to forge close ties with Tehran since it sent tens of thousands of troops into Ukraine on Feb. 24 as the Kremlin, decried as a pariah in the West, attempts to build new economic and diplomatic partnerships elsewhere.

South Korea and Cuba have also recently started accepting Mir - which means both "peace" and "world" in Russian - and the United Arab Emirates intends to start accepting it soon. The cards also work in popular tourist destinations Turkey and Vietnam and some former Soviet republics.

Both Russia and Iran are under heavy U.S. and European Union sanctions that have blocked their access to key parts of the global financial infrastructure.

The two are also working to create a rival to the SWIFT payments messaging service that underpins cross-border payments across the global economy, Safari said. Several Russian banks have been ejected from Belgium-based SWIFT since Feb. 24.

"Countries that want to de-dollarise their transactions must have a special system similar to SWIFT," RIA quoted Safari as saying.

"The Iranian and Russian sides have each proposed an option...We have reached a very good agreement on the basis of which we can carry out currency transactions between the two countries."

Russian cards issued by Visa and Mastercard stopped functioning overseas after the world's two largest payment processing networks suspended operations in early March. read more

Reporting by Reuters Editing by Mark Heinrich

Our Standards: The Thomson Reuters Trust Principles.

Adblock test (Why?)

"payment" - Google News
July 27, 2022 at 03:55PM
https://ift.tt/Bs9Y1On

Iran to start accepting Russian Mir payment cards soon -official - Reuters
"payment" - Google News
https://ift.tt/eSgx12a
https://ift.tt/hYu0IkH

Bagikan Berita Ini