Russian National Card Payment System Explained

The National Payment Card System (NSPK) is an operational and payment clearing house for processing bank card transactions within Russia and the operator of the Mir card payment system. It is the operational and payment clearing house of the and wholly owned by the Central Bank of Russia (CBR).^{[1] [2]}

On February 23, 2024, the United States Department of the Treasury imposed sanctions against the NSPK. This has no consequences on the territory of Russia, but may limit the use of Mir cards in other countries.^[3]

Notes and References

1. Web site: Russia's credit cards still function thanks to a domestic alternative to Visa and Mastercard .
2. News: Russia reaps reward of domestic payment system after Visa and Mastercard withdraw . Financial Times . 20 April 2022 .
3. Web site: On Second Anniversary of Russia’s Further Invasion of Ukraine and Following the Death of Aleksey Navalny, Treasury Sanctions Hundreds of Targets in Russia and Globally. 2024-02-23. United States Department of the Treasury.