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Russia Launches Payment Card Against Existing Players MasterCard and Visa

Russia issued its first electronic payment cards on December 15, 2015, aiming to compete with international payment systems such as Visa and MasterCard. The Russian national payment card system—branded Mir, which means "peace" or "world" in Russian—gained momentum after Russia's parliament passed a law to create a national payment card system. The Russian government has allo ...

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