Russia to phase out Mastercard and Visa

The Central Bank aims to reduce reliance on foreign payment networks, strengthening domestic financial control and digital payment infrastructure.

Visa and Mastercard have been limited to domestic use since 2022, with more Russians now switching to the Mir card system.

The Bank of Russia is preparing to phase out Mastercard and Visa cards and to switch to the domestic Mir payment system. Authorities plan a gradual timeline for banks to replace international cards, letting consumers switch at their own pace while keeping access to current accounts.

Visa and Mastercard have operated only domestically since leaving the Russian market after the 2022 invasion of Ukraine. The share of these cards in circulation is declining as more Russians adopt Mir.

The Central Bank has extended its validity temporarily, but a clear deadline for complete replacement is now being discussed.

Russia plans to launch the digital rouble alongside the card transition in September 2026. Only a limited framework for digital coins in foreign trade is expected to remain, highlighting Russia’s broader push for financial sovereignty.

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