“Mir” cards for the first time occupied more than half of the Russian payment market

“Mir” cards for the first time occupied more than half of the Russian payment market

Cards of the national payment system “Mir” for the first time were able to occupy more than half of the Russian card market in the third quarter of 2023, writes RBC with reference to information published by the Central Bank. According to the results of nine months of 2023, “Mir” accounted for 52.5% of all card transactions in Russia and 51.6% of all issued cards.

According to the results of the first half of 2023, these indicators were 49.4% and 48.2%, respectively. In total, banks issued 256 million Mir cards out of 424.9 million cards for individuals. The amount of transactions from them amounted to 44.3 billion rubles, including 14.4 billion rubles – payment for goods and services, 21 billion rubles – money transfers, 8.8 billion rubles – withdrawal of cash from cards.

In March 2022, international payment systems Visa and Mastercard, which occupied the main market share, left Russia. Their cards, issued by Russian banks, stopped working abroad, but continued in the country. All operations from them are processed through the National System of Payment Cards (NSPC, Mir card operator).

According to the forecasts of Volodymyr Komlev, the chairman of the NSPK, by the end of 2024 the share of “Mir” cards in card transactions will be 70%, and in 2025 Visa and Mastercard cards may completely go out of circulation (he told this in an interview with Frank Media).

Related posts