Russia hopes to see Visa, Mastercard return

Russia is hopeful about the potential return of Visa and Mastercard to its market, according to a report news agency, TASS.

Anatoly Aksakov, who chairs the Financial Markets Committee in the State Duma, noted that the departure of these major payment systems resulted in a significant loss for them, as they abandoned a large share of the Russian market.

However, Aksakov also pointed out that since the country has adapted to using its own National Payment Card System (NSPK), reintroducing Western credit card companies might prove challenging.

Visa and Mastercard exited Russia following the escalation of the conflict in Ukraine. In response, the domestic Mir payment system, operating under NSPK, became widely adopted across the country.

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