Visa and Mastercard May Return to Russia – State Duma
International payment systems Visa and Mastercard may resume operations in Russia, according to the head of the State Duma Committee on Financial Markets, Anatoly Aksakov.
Why Is This Possible?
— Companies lost the Russian market after their exit in 2022 and are now interested in returning.
— Many Russians face payment restrictions abroad – "Mir" cards are not widely accepted, and China’s UnionPay is gradually coming under sanctions.
— The National Payment System (NSPK) has taken over part of the market, but it has not fully replaced international services.
What Are the Obstacles?
- Political sanctions – Pressure from the U.S. and EU may hinder their return.
- Readiness of Russian banks – Since Visa and Mastercard left, banks have adapted to alternative systems, and not all may be willing to reinstate old payment models.
- Customer trust – Russian users have grown accustomed to other payment solutions, and it’s uncertain whether they will switch back.
What’s Next?
Visa and Mastercard have not yet made official statements. If negotiations progress, their return could reshape the Russian payments market.
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