UnionPay stops cooperation with Russian banks that fell under sanctions
After leaving Visa and Mastercard from the Russian market, the country began to massively switch to cards of the Chinese payment system UnionPay, but it seems that this will not help the Russians.
What is known
According to the Minister of Digital Transformation of Ukraine, UnionPay stops cooperation with Russian banks that fell under sanctions. This means that Sberbank, Alfa-Bank, VTB and many other Russian banks will not be able to issue a common card of the two Mir payment systems - UnionPay.
If you suddenly did not know
UnionPay- this is a Chinese payment system, which was launched in March 2002. Its shareholders are more than 200 financial institutions. To date, UnionPay accounts for the largest amount of spending on cards in the world. UnionPay operates in 180 countries, including the US and the EU.
Source: Mikhail Fedorov
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