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a_humean | 1 month ago

If I recall correctly, Russia required that Visa/Mastercard had offices and payment services located in Russia and they simply nationalised those branches and everyone's cards continued to work within Russia with minimal disruption to internal trade.

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cpursley|1 month ago

That's not what happened. They already had been working on MIR for a while. Then Visa/Mastercard pulled out due to sanctions over the war. The retailers actually prefer MIR now as it's newer/better tech plus lower fees and government likes it because they can track every little detail (when they were a bit in the dark before). Consumers seem to prefer the payment systems - faster transfers, QR code payments and scan face to pay terminals.

https://en.wikipedia.org/wiki/Mir_(payment_system)