While the use of Visa and Mastercard is blocked in Russia, Russians are paying through state-run payment agencies (NSPK), indicating that there is no problem in using the two credit cards in their country.
According to the Wall Street Journal (WSJ) on the 29th (local time), Russians are paying through NSPK, so visas and master cards can be used without restrictions in Russia. The two credit card companies withdrew from Russia earlier this month in response to Russia’s invasion of Ukraine.
However, the only thing that the Russian people suffered from the withdrawal of visas and master cards is that they will be restricted from using them abroad and new issuance of expired visas and master cards will be suspended.
Founded in 2015, NSPK is a payment organization supervised by the Russian central bank. Russian President Vladimir Putin signed a bill to establish the NSPK when the use of visas and master cards was blocked for Russians after the annexation of the Krem Peninsula in 2014. Since then, the payment processing of the two credit card companies has been transferred to NSPK.
Alma Obaeva, chairman of Russia’s National Payment Commission, said, “We have provided safety to the people in the field of payment and payment.”
NSPK has issued a state-run card, “Mir Card,” but it still has a high share of visas and master cards in Russia. According to the Nielsen report, there were 199 million visas and master cards registered in Russia at the end of 2020.
