Sberbank working to issue MIR, China's UnionPay co-badged payment cards after Visa, MasterCard announce exit from Russia

MOSCOW. March 6 (Interfax) - Sberbank is looking to the possibility of issuing a co-badged payment card of MIR and China's UnionPay, the lender said in a statement.

Sberbank will inform additionally of the date that the new payment card will be issued, it said.

As reported earlier, the international payments systems Visa and Mastercard simultaneously announced that they suspend operations in the Russian market.

The Central Bank of Russia (CBR) clarifies that all Visa and MasterCard payment cards issued by Russian banks will continue operating in Russia as usual until their expiry date. Transactions on such cards are processed within the National System of Payment Cards inside Russia, and sanctions will not affect them. Funds on clients' accounts linked to such cards are fully preserved and accessible, the CBR said.

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