Russia Mulls Payment System With Belarus and Kazakhstan

Moscow Is Working on an Alternative to Visa and MasterCard After U.S. Sanctions Hit Russian Banks

By Andrey Ostroukh


July 2, 2014 8:02 a.m. ET
ST. PETERSBURGThe Bank of Russia is working with its counterparts in Belarus and Kazakhstan on creating a regional payment system within the countries' customs union, the central bank's first deputy chairman said Wednesday.
Moscow plans to create a national payment system to protect itself against the kind of disruption caused when Visa and MasterCard cut ties with Russian banks hit by U.S. sanctions after Russia's annexation of... [sorry for the paywall]





http://online.wsj.com/articles/russia-mu...1404302570