15:41, 22 August 2022 Page views 105 views

India and Russia may start accepting each other’s payment cards soon

(no votes)

“The mutual acceptance of RuPay and Mir cards within the national payment infrastructures of the two countries will allow visitors travelling between India and Russia to make frictionless card payments,” notes the Deccan Herald.

The issue was discussed during the visit of Indian National Security Adviser Ajit Doval to Moscow on August 17-18. During the visit, Doval met with Secretary of the Russian Security Council Nikolay Patrushev, Deputy Prime Minister, Minister of Industry and Trade of the Russian Federation Denis Manturov and other officials of the Russian government.

Visa and Mastercard announced in early March that they were suspending operations in Russia. Their cards issued by Russian banks continue to work in the Russian Federation as usual. However, they cannot be used for cross-border transactions and purchases in foreign online stores. This makes it difficult for Indian and Russian tourists visiting each other's countries to make payments or withdraw cash at ATMs.