Sepp Hasslberger: Russia – Japan Unite on Payment Cards – Sanctions Backfiring

03 Economy
Sepp Hasslberger
Sepp Hasslberger

Financial pressure (the sanctions imposed by Western nations) seems to be backfiring…

Russian national payment system and Japan’s JCB to issue co-badged cards

EXTRACT

“The partnership with the Japanese payment system will provide Mir-JCB bank cards access to the infrastructure of JCB worldwide, including Asia, where JCB has traditionally been strong and had wide network of card acceptance. Co-badging the Mir-JCB card will work in the infrastructure of the Mir payment system as a Mir bank card; in the JCB infrastructure, outside of Russia, as a JCB card”, said the statement published Tuesday.

JCB in turn will significantly strengthen its position in the Russian market and its worldwide business, added NPCS.