Five Turkish banks have adopted Russia’s Mir payments system, a Bloomberg report said Saturday (Aug. 6), quoting Turkish President Recep Tayyip Erdogan after his talk with President Vladimir Putin at the Russian resort of Sochi. The report said Erdogan spoke of “serious developments” on work...
Russian and Chinese entities that provide alternatives to the dominant Visa and Mastercard payment networks may reap significant benefits from sanctions the West imposed in response to Russia’s invasion of Ukraine, the Financial Times reported Wednesday (April 20). Use of Visa and Mastercard was widespread...
While sanctions against Russia over its invasion of Ukraine have had a devastating effect on the country, it hasn’t stopped Russians from being able to use their Mastercards or Visa cards. As The Wall Street Journal reported Tuesday (March 29), the decision by the two...
Apple has closed a loophole that was allowing some Russians to keep using its mobile payment service even though the economic sanctions have been ongoing, an Engadget report says. The company told Russia’s biggest bank on Thursday that it wouldn’t be supporting the Russian Mir...
December 19, 2019
For eCommerce firms targeting emerging markets, the opportunities are vast, as millions of consumers continue to go online to buy, and eCommerce sales soar by double-digit percentages. But in markets such as Russia, complexity reigns, and merchants must grapple with data storage laws, unfamiliar payment rails and the payment preferences of their targeted end users. […]
April 09, 2023
One year after the world sanctioned their country, Russians have gotten creative in finding payment solutions. That’s according to a report Sunday (April 9) by the Financial Times (FT), which looks at the challenges of getting around U.S. dominated payment systems in the wake of sanctions related to the Russian invasion of Ukraine. “Many Russians … crossed […]
August 07, 2022
Five Turkish banks have adopted Russia’s Mir payments system, a Bloomberg report said Saturday (Aug. 6), quoting Turkish President Recep Tayyip Erdogan after his talk with President Vladimir Putin at...
April 20, 2022
Russian and Chinese entities that provide alternatives to the dominant Visa and Mastercard payment networks may reap significant benefits from sanctions the West imposed in response to Russia’s invasion of...
March 29, 2022
While sanctions against Russia over its invasion of Ukraine have had a devastating effect on the country, it hasn’t stopped Russians from being able to use their Mastercards or Visa...
