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+--- Thread: Moscow Is Working on an Alternative to Visa and MasterCard After U.S. Sanctions Hit Russian Banks (/thread-12828.html)
Moscow Is Working on an Alternative to Visa and MasterCard After U.S. Sanctions Hit Russian Banks - Magda Hassan - 05-07-2014
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-mulls-payment-system-with-belarus-and-kazakhstan-1404302570