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If I recall correctly, Russia required that Visa/Mastercard had offices and payment services located in Russia and they simply nationalised those branches and everyone's cards continued to work within Russia with minimal disruption to internal trade.


That's not what happened. They already had been working on MIR for a while. Then Visa/Mastercard pulled out due to sanctions over the war. The retailers actually prefer MIR now as it's newer/better tech plus lower fees and government likes it because they can track every little detail (when they were a bit in the dark before). Consumers seem to prefer the payment systems - faster transfers, QR code payments and scan face to pay terminals.

https://en.wikipedia.org/wiki/Mir_(payment_system)


Which is what Europe is doing by implementing Digital Euro to replace Visa/Mastercard/Apple Pay/Google Pay

https://www.ecb.europa.eu/euro/digital_euro/html/index.en.ht...


Nice. I assume there's a card system as well?


Replacement of Visa/Mastercard implies that.




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