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Russia, Turkey working on payment system, whose cards can be used by Russian tourists in Turkey

EconomyRussia, Turkey working on payment system, whose cards can be used by Russian tourists in Turkey

Since the Russian invasion of Ukraine, Russia and Turkey are working on a payment system, whose cards can be used by Russian tourists in Turkey.

The payment system will be named Rebit Kart. Five of Turkey’s banks have started using Russia’s Mir payments system, which will allow Russian tourists to pay for their purchases in Turkey.

This is because many countries including Turkey have stopped accepting Mir after the US Treasury Department said that it would impose sanctions against financial institutions supporting the Mir payment system in mid-September3.

Since the war, many Russians have also fled to Turkey.  Russia and Turkey reached agreement on a new payment system for Russian tourists, Turkish media reported on Friday, citing sources.

Earlier in April, Russia’s Central Bank Governor Elvira Nabiullina said that Russia’s regulator was developing a new payment system, an alternative to MIR, in cooperation with a number of countries, including Turkey.

Russian tourists will be able to access their bank accounts by means of a debit card, the Turkish newspaper Sabah reported, providing no further details.

Since Russia’s invasion of Ukraine, many countries, including Turkey, Vietnam, Kazakhstan, Kyrgyzstan, Uzbekistan, and Tajikistan, have stopped accepting Mir after the US Treasury Department said that it would impose sanctions against financial institutions supporting the Mir payment system in mid-September.

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