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I worked in credit card acquiring business (implemented credit card application for the terminal). Cards with Mastercard or Visa logo can still work without Ma
by lmilcin 5y ago
I worked in credit card acquiring business (implemented credit card application for the terminal).
Cards with Mastercard or Visa logo can still work without Mastercard or Visa processing the payments.
Obviously, they do work in ATMs.
For normal payments it is possible for another company to step in and process the payments. That would be massive effort but not impossible to get done in say couple of weeks.
But that would still mean that the system would be cut off from the rest of the world -- cards issued by Russian banks would not be valid outside of the new system. Cards outside of Russia would not work because it cannot communicate with Russian system. And cards issued outside of Russia would not work inside Russia for the same reason -- the transaction would not be possible to authorise across the border.
- skissane 5y ago> For normal payments it is possible for another company to step in and process the payments. That would be massive effort but not impossible to get done in say couple of weeks. Per another comment, the massive effort has already happened over the preceding years, out of the expectation that something like this was going to happen sooner or later: https://news.ycombinator.com/item?id=30572790 https://news.ycombinator.com/item?id=30572790 > But that would still mean that the system would be cut off from the rest of the world Could Russian banks adopt China's UnionPay as an alternative to Visa/MasterCard? UnionPay is already accepted in many Western countries due to the desire to gain the business of Chinese nationals (tourists, business travellers, international students, etc). Would it be technically possible for a Western intermediary processor to distinguish a Russian UnionPay card from a Chinese one?
- forum_ghost 5y agohttps://en.wikipedia.org/wiki/Mir_(payment_system) https://en.wikipedia.org/wiki/Mir_(payment_system) Lots of them are co-branded with UnionPay.