According to sources from the publication, the issue of mutual use of cards was raised at a recent meeting of the Intergovernmental Commission for Trade, Economic, Scientific, Technical and Cultural Cooperation. The event was attended by Indian Foreign Minister Subramanyam Jaishankar and Deputy Prime Minister – Russian Minister of Industry and Trade Denis Manturov.
In addition, the parties have decided to explore the possibility of interaction between the Indian Unified Payments Interface (UPI) and the Bank of Russia’s Faster Payment System (FPS).
Russia and India will also consider introducing the Russian Financial Message Transfer System (SPFS) for cross-border payments.
The geography of acceptance of Mir cards has seriously shrunk since the fall of 2022. The risks of secondary sanctions have forced many States to refuse to accept these cards. For example, since September “Mir” no longer works in Turkey and Uzbekistan. Now, with Russian cards, you can pay for purchases without restrictions and withdraw money from them, in addition to Russia, only in Belarus and Armenia. Foreign banks independently decide whether to accept Mir cards in the network of their devices, so the list of states is constantly changing.
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