Russia's Mir Payment System To Test International Transactions With CIS In October

Russia's Mir payment system told Sputnik that it would start testing international transactions with three countries of the Commonwealth of Independent States (CIS) in October

MOSCOW (UrduPoint News / Sputnik - 18th September, 2019) Russia's Mir payment system told Sputnik that it would start testing international transactions with three countries of the Commonwealth of Independent States (CIS) in October.

The payment system's press service did not specify which countries are in question. Mir, meanwhile, has partnerships with the national payment systems of Kyrgyzstan, Uzbekistan, Armenia, Belarus and Tajikistan.

"The testing of such transactions with three countries where partner payment systems operate is scheduled for October.

It will be possible to transfer funds from 'Mir' to bank cards of a number of national systems of CIS countries," the press service said, quoting the Mir operator CEO, Vladimir Komlev.

According to Komlev, in the future, the project will be joined by other countries, with which Russia's payment system has been integrated.

The Mir national payment system was created after Visa and MasterCard had denied some Russian banks services because of US sanctions imposed on Moscow over the Ukraine conflict. The system was launched in Russia in April 2015.