The share of Mir cards in Russia has reached 85% and will continue to grow, Dmitry Dubynin, CEO of the National Payment Card System (NSPK), said in an interview with "Expert". At the same time, NSPK is discussing the phased withdrawal of Visa and Mastercard, which have stopped working abroad and lost all loyalty programs, but still require technical support.
According to Dubynin, maintaining dying plastic entails significant costs. The chips' security certificates are expiring, and without modifications, terminals would stop accepting such cards. NSPK has already implemented the necessary technical changes at its own expense but believes that resources should be more appropriately directed towards the development of Russian services. The final decision on the withdrawal timeline will be made after consultations with banks, and the transition is promised to be comfortable and spread out over time.
In parallel, NSPK is preparing to sell a minority stake: the Bank of Russia will retain control, and new shareholders will receive no more than 5% each. Dubynin positively assessed this idea, emphasizing that market participation in capital will accelerate the implementation of in-demand solutions. The full infrastructure for the digital ruble is already ready, and a universal QR code will be launched on September 1.
Read more on the topic:
- Not a ban, but a reset: how Visa and Mastercard will be phased out
- The share of banking operations with Mir cards reached 75%: Visa and Mastercard plastic cards are gradually being withdrawn from the market
- Cards are gone, plastic remains: Central Bank believes it's time for Visa and Mastercard to exit the market