Armenian banks will stop accepting cards using Russian Mir payment system

Debit and credit cards using the Russian payment network Mir will stop working at ATMs and POS terminals of most Armenian banks from 30 March 2024.

Source: RBK with reference to a representative of VTB Bank Armenia (a subsidiary of Russia's VTB)

Details: Currently, Mir operates in Armenia and cards using the system are accepted by local banks. RBK's source in the Russian payment market also said that most banks will soon cease to accept Mir cards in the country.

"Starting from 30 March, non-cash payments at POS terminals and cash withdrawals at ATMs of other banks in the Republic will not be available to users. This will not affect the operation of VTB Armenia cards in any way," the representative of VTB Armenia said.

The representative of VTB Armenia said that the bank continues to service Mir cards in full.

"We continue to work with ‘friendly’ countries to accept Mir cards in their infrastructure. At the same time, each country decides independently whether to accept them," the representative of the Bank of Russia said.

"The Mir payment system does not restrict work with foreign partners. However, it is up to the banks of other countries to decide whether to accept Mir cards in their networks," said a representative of the National Card Payment System, the operator of the Mir payment system.

Background:

• In February 2024, the US imposed sanctions against the National Card Payment System operator.
• According to The Bell, this is a severe problem for Russian residents in Armenia, which remained one of the few countries where Russians could not only stay easily with a domestic passport but also use their cards.

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