Russia wants its own card system to escape dependency on Visa & MasterCard

The Crimean crisis is affecting Russia with various sanctions from the U.S. It is becoming difficult for Russia to transact with the world with the new sanctions.

Russia has now renewed its plans to get its own card system so that it doesn’t have to relay on Visa or Mastercard for its card payment process. Which the mounting pressure from the U.S due to the Crimean crisis has now ended in disruptions of the payments handled by Visa and Mastercard.

Russia is now determined to get rid of any dependencies on the Western world and it’s Finance Minister has announced they will start working on to develop their own card payment system.