A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
February 27, 2025
On the web
Russia Delays CBDC Launch to Finalize Economic Model With Banks
Crypto News
February 3, 2025
On the web
India, Russia in ‘Active Discussion’ Over RuPay & MIR Mutual Transactions
The Print
December 18, 2024
On the web
Russia Shares CBDC Business Model as Banks Push Back
Ledger Insights
December 6, 2024
On the web
Retailers Push for a Delay in Rollout of Russia’s CBDC
Ledger Insights
November 21, 2024
On the web
Russia’s Digital Assets Challenge Western Sanctions
GIS Reports
November 13, 2024
On the web
Russia’s MIR Payment System Connected to Iran’s Shetab [Video]
PressTV
November 4, 2024
On the web
BIS Steps Back From Digital Payment Project Touted by Putin
Bloomberg
October 8, 2024
On the web
Bank of Russia Eyes ‘Extensive Introduction’ of Digital Ruble From July 2025
Global Government Fintech
August 26, 2024
On the web
India and Russia May Soon Mutually Recognize Mir and Rupay Payment Systems
Arka
August 9, 2024
On the web
Russia Legalizes Bitcoin and Cryptocurrency Mining
Cointelegraph
July 8, 2024
On the web
Iran Proposes to Connect Brics Payment Systems — Foreign Ministry
TASS
June 11, 2024
On the web
Russia to Start Using CBDC for Cross Border Payments in 2025
Ledger Insights
December 6, 2023
On the web
Russia Launches Its Mir Payment Cards in Cuba
Reuters
August 10, 2023
On the web
Russia to Launch CBDC Trials, Testing Digital Ruble with 13 Banks
Forbes India
August 3, 2023
On the web
Bank of Russia Approves Logo, Fees for Digital Ruble
Novaya Gazeta Europe
July 28, 2023
On the web
Putin Signs Law on Introduction of Digital Ruble in Russia
Cointelegraph
March 15, 2023
On the wires
India Using SWIFT Global Payment System to Settle Russia Dollar Trade
Reuters
March 14, 2023
On the web
Cuban Banks Now Accepting Russia’s MIR ATM Cards
Russia Briefing News
February 6, 2023
On the web
Application of Biometric Face Identification Technologies in Financial Institutions
Biometric Update
September 29, 2022
On the web
Russia Plans to Use Digital Rouble in Settlements with China, Says Lawmaker
Reuters
After launching a digital rouble early next year, Russia plans to use the currency in mutual settlements with China as it seeks to reduce Washington’s global financial hegemony, a senior Russian lawmaker said on Monday.
Russia, like many countries, has been developing digital money over the last couple of years to modernise its financial system, speed up payments and head off the threat of cryptocurrencies like bitcoin gaining influence.
August 31, 2022
On the web
Russia Moves From SWIFT to More Secure Mechanisms
Al Mayadeen English
The Deputy Minister of Foreign Affairs of Russia Alexander Pankin revealed that the Bank of Russia is actively developing the Financial Message Transmission System.
Russia believes that a gradual shift from the SWIFT interbank payment system to more secure channels for sending financial information protected from external pressure is necessary, according to Russia’s Deputy Foreign Minister Alexander Pankin in an interview for TASS.
April 21, 2022
On the web
Explainer: China UnionPay, Russia’s Potential Payments Backstop
Reuters
“Several Russian banks plan to issue payment cards that use the network of China UnionPay as well as that of home-grown payment system Mir, after Visa Inc (V.N) and MasterCard Inc (MA.N) joined other Western firms in suspending operations in Russia. read more UnionPay and Mir are among few options left for Russians to make payments abroad since Russian banks were isolated from the global financial system following Russia’s invasion of Ukraine. Russia calls its actions in Ukraine a “special operation”. read more“
April 20, 2022
On the web
Russia Central Bank Will Not Name Banks Linked to SWIFT Alternative
Reuters
“Russia’s central bank said on Tuesday it would no longer publish the names of banks connected to Moscow’s alternative to the SWIFT payments network, as Russia grapples with sanctions. Several Russian banks have been banned from SWIFT after Moscow began what it calls “a special military operation” in Ukraine on Feb. 24 as part of wider western penalties designed to isolate Russia from global markets over the invasion.”
Russia reaps reward of domestic payment system after Visa and Mastercard withdraw
Financial Times
“In 2014 Gennady Timchenko, a billionaire businessman and an ally of Russia president Vladimir Putin, sang the praises of a new UnionPay card he obtained after sanctions rendered his Visa and Mastercards useless. “It works perfectly,” he told Russian news agency Tass of the card issued by China’s UnionPay. “And it is accepted in a lot of places. In some sense, it will be more reliable than Visa. At least the Americans won’t be able to grab it.” Timchenko’s wallet refresh echoed Putin’s larger push to reshape his country’s payments system after western sanctions were imposed on Russian banks following the 2014 invasion of Crimea.”
April 18, 2022
On the web
Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments
Bitcoin News
“The Ministry of Finance of Russia recently submitted to the government an updated version of its bill “On Digital Currency” designed to comprehensively regulate the country’s crypto market. Details about the law’s provisions have surfaced in Russian media reports this week. According to the draft, qualified investors, or “professional purchasers of digital currency” as they are now described, will have unrestricted access to crypto assets. Ordinary Russians, however, will be able to buy a maximum of 600,000 rubles (approx. $7,000) worth of cryptocurrency each year. And that’s after they take a special exam .”
March 18, 2022
On the web
Citigroup Pushes Through Russia’s $117 Million Coupon Payment
bloomberg
“Citigroup Inc. has processed the $117 million Russia transferred to pay two bond coupons, and has sent the cash further along the payment chain, according to a person familiar with the matter. The funds are no longer with Citigroup, the person said, declining to be identified because they aren’t authorized to speak publicly on the issue. A spokeswoman for Citigroup declined to comment. The funds were denominated in dollars, two separate people said.”
July 22, 2021
On the web
Russia’s Mir Card Payment System Connects to Apple Pay
US News
“Russia’s card payment system Mir, which was set up in 2015 after the West imposed sanctions on Moscow, is now connected to Apple Pay, the card issuer said on Tuesday. More than 95 million Mir cards have been issued by Russia’s National Card Payment System (NSPK), accounting for about a third of Russia’s card market which was previously dominated by international payment systems Visa and Mastercard.”
June 30, 2021
On the wires
Russian National Payment System “Mir” Becomes Available in South Korea
“BC Card, the biggest payment processing company in South Korea, firstly affiliates with NSPK, a Russian national payment company, to process card payment of “Mir” system in South Korea. As a Russian national payment system, Mir has 158 Issuers and 265 acquirers. Also its acceptances are spread over 11 countries. According to NSPK, 98.7 million cards have been issued in Russia as of May 1st, 2021. Thanks to the cooperation, Russians who visits South Korea will become able to use their own.”
June 2, 2021
On the web
Mir Breaks Visa-Mastercard Duopoly in Russia
Finextra Research
“As Europe’s proposed alternative to Visa and Mastercard takes shape, evidence from Russia suggests that an upstart rival can break the American giants’ duopoly – if government is prepared to put its finger on the scale. The European Central Bank has long-floated the idea of a home-grown cross-border scheme capable of taking on Visa and Mastercard.Last year, a host of the continent’s banks finally unveiled plans to take action through the European Payments Initiative (EPI), which promises a unified pan-European payment system, offering a card for consumers and merchants across Europe, a digital wallet and P2P payments.”
April 27, 2021
On the web
‘Pay With a Glance’: Russia’s Sberbank Rolling Out Face-recognition Payments
Reuters
“Russia’s biggest bank hopes shoppers will sign up for a facial recognition service that will let them pay for their groceries with just a glance. Sberbank is partnering with supermarket chain Magnit and plans to connect 100 stores in Moscow and Krasnodar to the service by June, the two companies said on Thursday. A pilot programme is already running in ten shops. As banking margins shrink, Russia’s largest lender is expanding in areas ranging from food delivery and taxi services to cloud computing and cyber security.”
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