After Western sanctions gutted Russia's financial system five years ago, a ...
MOSCOW - After Western sanctions gutted Russia’s financial system five years ago, a new bank card began appearing in the wallets of many Russians.
“In the next three years we want Mir cards to be operational in countries where Russians are used to traveling,” Komlev said. “It’s the hardest task in terms of returns on investment.” Komlev projected Mir cards would be operational at some banks in 12 foreign countries by the end of the year. He would not, however, disclose which countries those might be.
These measures have made Mir a rival to Mastercard and Visa in Russia. But its shortcomings - its incompatibility with many international shopping platforms and its limited use outside Russia - have prompted Russian officials to call for more support to help it to take on U.S. competitors.
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