MOSCOW, May 25. /TASS/. Visa and Mastercard cards should leave the Russian market since they no longer provide the functionality they previously ensured, Director of the Bank of Russia’s National Payment System Department Alla Bakina said.
"With regard to international payment system cards, our position is that, of course, these cards should leave our market because they no longer carry out or provide the functionality they always ensured, while the National Payment Card System continues to bear the costs of supporting these cards," she stressed.
She also said that the share of Visa and Mastercard cards continues declining in the Russian market and it is about 17% now. "These payment systems [Visa and Mastercard -TASS] were removed from our market. The people had a sizable number of cards but the share of these instruments declined in the market during four -five years. The banks are performing the gradual substitution by other instruments, including Mir cards. Therefore, the National Card Payment System through economic incentivization measures is arriving at the withdrawal of these cards from the market,"she noted.
The share of cards of Visa and Mastercard payment systems is "less than 17%"at present, Bakina added.
