Russia and Iran have completed the first phase of linking their two major payment networks, Mir in Russia and Shetab in Iran. A representative from the Central Bank of Iran announced the milestone on social media, outlining that the work to align the two systems had moved from planning into active integration. The scope includes harmonizing card transaction processing, settlement rules, and security standards so that a consumer with a Mir card can be recognized as a valid payment instrument within Iranian terminals and, conversely, that Shetab issued cards can be accepted on Russian infrastructure. The announcement highlighted the cooperation between the two central banks and their payment-system operators as a turning point for bilateral financial ties.
Officials stated that the integration of Shetab into the Mir ecosystem has begun, with technical teams from both sides collaborating to align rules for card authentication, network routing, and ATM cash access. Despite early hurdles, the project has progressed to a stage where practical demonstrations show how cardholders can initiate cross-border transactions through contactless technology. A demonstration depicted a user using a smartphone equipped for near field communication to withdraw rubles from a VTB ATM, illustrating the real world potential of the hybrid network. The note emphasized that while the work is not fully finished yet, the fundamental linkage is in motion and responsive to regulatory review.
Central-bank officials described the effort as multinational in scope, with monetary authorities from both countries supervising the project and banks participating in the technical merger. The process includes updating risk controls, anti-fraud measures, and compatibility testing across payment terminals, mobile wallets, and online channels. Some early challenges were acknowledged, including interoperability quirks and the need to align sanctions compliance, consumer protection rules, and data privacy standards across jurisdictions. Nevertheless, the teams reported that most critical milestones were met and the groundwork for wider customer usage had been laid.
On September 15, a Tehran-based official stated that Mir would be operational for Iranian users within roughly six months. In exchange, Iran assumed that Shetab would gain access to Russia’s payment network, enabling mutual acceptance of cards and better cross-border cash access for travelers and residents. The commitment signals a longer term plan to reduce friction for cross-border shoppers and expatriates, while preserving each country’s regulatory framework and oversight. The statements were framed as a meaningful step forward in regional finance cooperation.
Earlier, it was confirmed that Mir cards began functioning in Nicaragua, signaling the expansion of the Mir network beyond Russia and neighboring markets. This development is cited as an indicator that cross-border payment networks can extend to distant markets when regulatory alignment and technical compatibility are achieved. Observers see these signals as part of a broader shift toward diversified international payment routes, offering options to travelers and residents in places previously outside the Mir ecosystem.
Looking forward, officials emphasize continued progress toward wider deployment, stricter risk controls, and enhanced consumer protections as the networks grow closer together. The ongoing collaboration between Iran and Russia is expected to refine standards for card authentication, improve cross-border dispute resolution, and expand access for users who rely on these systems while navigating regional regulatory landscapes. In short, the collaboration aims to deliver faster, safer, and more convenient cross-border payments for individuals and businesses across both nations and beyond.