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Russian Banks Stay with Visa and MasterCard While Seeking Alternatives

Several Russian banks were recently denied services by Visa and MasterCard, and now the general public is concerned about the country’s financial situation, according to RIA Novosti.

The Russian Central Bank has now invited the country’s banks and payment platforms to help find a new national card payment processing system.

The deputy head of the national payment system (NPS) is in favor of a non-commercial organization, while Sberbank (the country’s most widespread bank) is in favor of a commercial system because the payment operator should also be a business.

In the meantime, many financial companies are seeking to cooperate with Asian partners and work out a further plan for card emissions.

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