The Bank of Russia stated that cards from international payment systems Visa and Mastercard should gradually withdraw from the Russian market. This was announced by Alla Bakina, Director of the National Payment System Department of the Central Bank.
According to her, after the companies left Russia, such cards no longer perform the functionality for which they were originally used.
Currently, Visa and Mastercard cards continue to operate within the country thanks to the infrastructure of the National Payment Card System. However, their security certificates from international payment systems are no longer active, as previously stated by Dmitry Dubynin, CEO of NSPK.
In February, the possibility of granting the Bank of Russia powers to impose restrictions on the use of Visa and Mastercard cards was also discussed. The risks of such cards were associated precisely with the fact that international payment systems had effectively left Russia, and their continued operation is now supported by internal infrastructure.
