Certified payment providers 3
Market coverage 11
["Abkhazia","Armenia","Belarus","Kazakhstan","Kyrgyzstan","Russia","South Korea","South Ossetia","Tajikistan","Uzbekistan","Vietnam"]
Russia
Abkhazia- Armenia
- Belarus
- Kazakhstan
- Kyrgyzstan
- Russia
- South Korea
- South Ossetia
- Tajikistan
- Uzbekistan
- Vietnam
Currencies 3
- Euro
- Russia Ruble
- United States Dollar
Description
The MIR payment method is a national payment system in Russia. It was developed with the aim of reducing the country’s dependence on international payment networks such as Visa and Mastercard. The term “MIR” means “peace” in Russian, but it is also an acronym for “Moye Istochniky Razvitiya” (My Sources of Development).
The MIR system was launched in 2015 by the Russian government and the Central Bank of the Russian Federation. It offers payment cards and electronic payment solutions to Russian consumers. MIR cards can be used for online payments, in-store purchases, cash withdrawals from ATMs, and other common transactions.
The main objective of the MIR payment method is to stimulate Russia’s financial independence and reduce the costs associated with international transactions. It also aims to strengthen payment security and protect the data of Russian consumers by avoiding sharing sensitive information with foreign payment networks.
Since its launch, the MIR system has experienced significant growth, with increasing adoption by Russian consumers and merchants. Russian authorities have also taken steps to encourage its use, such as introducing discounts and benefits for MIR card users.
