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Iran confirms to become the first nation to accept Russia’s MIR payment cards

Russia’s RIA news agency just quoted that Iran will be the first country to start accepting payments made with Russia’s MIR payment cards. It is a Russian alternative to Visa and Mastercard.
MIR has also recently been started in South Korea and Cuba, which means both “peace” and “world” in Russian, whereas the United Arab Emirates are also planning to start it soon. The card comes under working in several tourist places such as Turkey and Vietnam and also some former Soviet republics.
Due to heavy U.S and European Union sanctions that blocked Iran and Russia’s access to key parts of the global financial infrastructure.

Since February 24, several Russian banks have been ejected from Belgium-based SWIFT. Iran and Russia are also planning to create a rival to the SWIFT payments messaging service that underpins cross-border payments across the global economy.

“ Countries that want to de-dollarise their transactions must have a special system similar to SWIFT,” RIA quoted Safari as saying. In early March, there was a suspension of world’s two largest payment processing networks,  Russian cards issued by Visa and Mastercard stopped functioning overseas.

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