Media: Two more Russian banks plan to issue UnionPay cards

Moscow Credit Bank (MCB) and DOM.RF are planning to start issuing cards from the Chinese payment system UnionPay. The newspaper writes about it “News” referring to representatives of credit organizations.

As stated in the ICD, they are working on the possibility of issuing cards of the Chinese payment system. DOM.RF noted that they plan to start issuing Union Pay cards around 2023, with plans to include the launch of a joint product with the Mir card.

According to Alexey Voilukov, vice president of the Russian Banks Association, UnionPay could take 5-8% of the Russian payment card market if Visa and MasterCard do not return in the near future. He also noted that currently, 11 banks can officially issue such cards, and a few more institutions have gone through payment system and approval procedures.

Evgeny Romanov, a leading analyst in banking ratings at Expert RA, said that when buying such cards, you must first understand that they are for tourism purposes, and in other countries you can use the card only in a shopping center or a large store. because there may be difficulties in small points.

The expert also emphasized that a limited number of banks can work with UnionPay, and some sites may block payments from users from the Russian Federation due to sanctions.

Previously reportedUnionPay cards have been issued at some electronics retailers since the end of June due to restrictions on the use of VISA and MasterCard abroad.



Source: Gazeta

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