Russian banks to turn to China’s ‘UnionPay’ replaces it after being boycotted by Visa, MasterCard.
The Russian central bank said yesterday (March 6) that local financial institutions are preparing to turn to UnionPay, China’s payment network, has been sanctioned by Visa and MasterCard. This will prevent both types of credit cards issued by Russian banks from being used abroad after March 9. The ban will also apply to Visa and … Read more