Page 87 - RusRPTDec22

8.1.7 Banks specific issues
Russian payment system Mir's expansion abroad has been blocked for a month not even by sanctions, but by a warning from the US Department of the Treasury. All Turkish banks have abandoned the Russian payment system, and the banks of “friendly” countries are gradually falling off (today, KICB is noticeable in Kyrgyzstan). Two Russian banks will test an alternative approach - their own POS-terminals for Mir cards abroad, RBC learned.
The publication does not write what kind of banks they are, but it knows that it is supposed to start from Turkey and the United Arab Emirates, where there are especially many Russian tourists. First of all, the terminals will be installed in hotels and large stores.
There are two main schemes of work: agency and intermediary. In the first scheme, an agent of a trading company opens a ruble account for him in a Russian bank, concludes an acquiring agreement on his behalf and connects a terminal in the country of service. Payments via the Internet are received by a Russian bank and then transferred to the company's account in a foreign bank. The main advantage is that the transaction itself does not go through a foreign bank.
In the intermediary version, the money goes to the account of the intermediary
87 RUSSIA Country Report December 2022 www.intellinews.com