Russia to launch its payment system after blocked by Visa,Mastercard
Last week MasterCard and Visa stopped servicing some Russian banks, which shows the Russian market remains the monopoly of international operators.
Although the payment systems resumed operations with Russia's SMP Bank on Sunday, it is estimated clients withdrew about $111 million from their accounts in just two days.
After years of rhetoric over the need to launch a domestic payment system in Russia, it may become a reality soon.
Read Full Story: http://rt.com/business/russia-payment-system-visa-...