Mir (payment system)
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Mir (Russian: Мир, IPA: [ˈmʲir]; lit. the world; peace) is a national payment system established by the Central Bank of Russia by the law adopted in May 1, 2017. It is currently accepted mostly by Russia-based companies, such as Aeroflot or Russian Railways, though it is gradually gaining acceptance among foreign companies with Russian operations. The system is operated by the Russian National Card Payment System, a wholly owned subsidiary of the Central Bank of Russia.
The system was devised in 2016 as a way to overcome potential blocks of electronic payments, after several Turkish banks were denied services by US-based Visa and MasterCard because of the sanctions regime against them. The first cards working on the Mir system were launched in December 2015. Sberbank, Russia's leading bank, started issuing them in October 2016. By the end of 2016, 1.76 million Mir cards had been issued by 64 banks, rising to 37 million by June 2018.
Mir is mainly promoted by the Russian government, with proposed legislation mandating that all welfare payments should be processed through the system by January 2018. Banks are reluctant to issue them, as their cost might be higher compared to cards belonging to more established payments systems. On May 1, 2017 the law mandating all banks to use Mir for welfare and pension payments entered into force.
- "Путин подписал закон об обязательном переводе бюджетников на карты "Мир"". Interfax.ru (in Russian). 2017-05-01. Retrieved 2018-08-22.
- "AliExpress First Foreign Company to Accept Russia's Mir Payment Cards". Moscow Times. Retrieved 3 February 2017.
- "The Bank of Russia issues warning over Mir payment cards". Russia Beyond The Headlines. 17 June 2016. Retrieved 3 February 2017.
- "McDonald's first U.S. business to accept Russia's new Mir payment card". UPI. Retrieved 3 February 2017.
- "Seven Russian banks start issuing first cards of Mir payment system". www.thepaypers.com. Retrieved 3 February 2017.
- "Sberbank launches servicing of Mir payment cards". Russia Beyond The Headlines. 20 September 2016. Retrieved 3 February 2017.
- "About 20 mln Mir cards may be issued next year in Russia". TASS (in Russian). Retrieved 3 February 2017.
- "Комлев: карта «Мир» есть у каждого четвертого россиянина". Банки.ру. Retrieved 10 November 2018.
- "Top Russian Banks Lobby Against Forced Use of Kremlin's Mir Payment Card". Moscow Times. Retrieved 3 February 2017.
- News, East-West Digital (20 June 2016). "National bank card MIR soon accepted ubiquitously in Russia in spite of security and financial challenges". East-West Digital News. Retrieved 3 February 2017.
- Колебакина, Дмитрий Катаргин, Елена. "«Карта «Мир» – это такая советская ситуация, когда «счастье» навязывается сверху...»". БИЗНЕС Online (in Russian). Retrieved 2018-08-22.
- "Банки объяснили причины высокой стоимости национальной платежной карты". РБК. Retrieved 2018-08-22.
- "Карта «Мир» сблизила Южную Осетию с остальным миром". AlaniaInform (in Russian). Retrieved 28 December 2018.
- "İş Bank first Turkish bank to accept Russian payment system MIR". Retrieved 19 April 2019.
- "Visa, Mastercard suspend membership of Eurofinance Mosnarbank in payment systems due to sanctions - The World News Monitor - Business Information, Breaking News, Analysis". The World News Monitor. 2019-03-13. Retrieved 2019-06-05.