Bereke Bank Changes Mir Card Support and Payments Landscape
Kazakhstan’s Bereke Bank has announced a significant change for Mir card holders. Starting March 17, the bank will discontinue service for Mir cards. This decision marks a notable shift in how the bank serves its customers and how card-based transactions will be processed within its network. Bereke Bank clarified that users will still be able to conduct transactions with Visa, Mastercard, and UnionPay cards, which will continue to be fully supported and processed without interruption.
Bereke Bank holds a solid position within Kazakhstan’s banking sector, ranking ninth among commercial banks in the country. For the year 2024, the bank reported capital of 153 billion tenge, roughly equivalent to 31.48 billion rubles, underscoring its stable financial footing and ongoing capacity to support a diverse range of payment methods for clients and partners alike.
Beyond domestic developments, there is growing interest in cross-border banking collaboration, including discussions about opening branches of Russian banks in Cuba. Cuba has shown a clear intent to strengthen ties between its financial institutions and those of Russia, signaling potential shifts in regional financial cooperation and payment flows in the Caribbean and Latin American regions.
Three months prior, Cuba welcomed the Russian payment system Mir, integrating it into its financial ecosystem. The rollout included Mir-enabled ATMs across the republic, enabling Cuban residents and visitors to withdraw cash using Mir cards. This expansion marked a tangible step in diversifying Cuba’s payment infrastructure and broadening access to international card networks for Cuban users.
Meanwhile, Russian authorities have continued to assess the role of the ruble in international payments for 2023, reflecting ongoing strategic considerations about currency use in global settlements. The evolving dynamics surrounding Mir, international card networks, and currency participation illustrate the broader shifts shaping the payment landscape across regions with evolving geopolitical and economic ties.