MIR Payment System
The Russian national payment system was created in late 2015. In the spring of 2015, in the course of the All-Russian creativity competition, the name MIR and the brand logo were chosen. National Payment Card System is the MIR Payment System operator.
The first MIR cards were issued in December 2015 under a pilot project. It is planned that MIR cards will be widely spread in Russia. It is also envisaged to promote the card abroad under co-badging projects with international payment systems. Currently, Mir-Maestro, Mir-JCB and Mir-AmEx have already being issued.
Unlike international payment systems’ card transactions, MIR card transactions cannot be suspended and no external economic and political factors can affect their processing.
The main objectives of the Russian payment system are:
· Provision of a reliable money transfer service with the use of national payment instruments;
· Building of trust to cashless payment methods;
· Creation of Russian sovereign payments area independent from foreign companies;
· Issue of MIR national payment card;
· Promotion of MIR cards in the international market.