MOSCOW: The Bank of Russia is considering the deadline for termination of servicing cards issued by Visa and Mastercard by Russian banks, t...
MOSCOW: The Bank of Russia is considering the deadline for termination of servicing cards issued by Visa and Mastercard by Russian banks, the press service of the regulator told TASS.
The Central Bank expects the transition to Mir cards will be gradual. "We are currently considering the timeline, during which servicing of cards of international payment system should stop. It will reasonable and sufficient for the banks to gradually replace them by Mir cards if customers so desire," the Bank of Russia noted.
Urgent replacement of such cards is not required and they continue functioning as usual, the Central Bank said. The banks timely inform the clients about further action.
"The decision to extend the validity period for cards of international payment systems that left the Russian market was an involuntary measure. It was made so that people could continue using these cards and not to change their habits. The need for such measure is no more actual at present - the share of such cards in circulation is declining," the press service noted.
Banks together with the Russian National System of Payment Cards extended the period of already issued cards after Visa and Mastercard suspended operations in Russia in 2022. No new cards of international payment systems were issued since then. It became known in July 2025 that the Bank of Russia intends to set the deadline for their operation.
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