Russia Bids Farewell to Visa and Mastercard: Central Bank Orders Full Shutdown
As of mid-2025, Russia is in the process of phasing out Visa and Mastercard cards, with the Bank of Russia considering the timeline for completely discontinuing these international payment systems [1]. This move is part of a broader transition towards Russia’s national payment system, Mir, which has been promoted by Russian authorities as a replacement for Visa and Mastercard amid sanctions and international restrictions [1].
The shift towards the Mir platform has made the Russian payment infrastructure more predictable, secure, and autonomous from external shocks. With most stores and services in Russia now working exclusively with Mir cards, Russian banks are proactively informing clients about the need to reissue cards and are providing assistance with free or express card replacement [1].
The phasing out of servicing previously issued Visa and Mastercard cards has begun, with major federal banks like Sberbank, VTB, Gazprombank, and others accelerating client notification [1]. The deactivation of Visa and Mastercard will be gradual and risk-free for funds. Special attention is given to elderly users and regional residents, with dedicated hotlines and additional specialists in client offices [1].
The extension of international cards was a temporary measure aimed at avoiding stress and long queues in banks. The share of foreign payment systems in turnover has reached a record low level by 2025, as Russian banks stopped issuing new Visa and Mastercard cards in 2022 [1].
No specific final deadlines for the phase-out have been publicly announced up to August 2025. The Bank of Russia is determining clear deadlines for when the use of these cards will be completely discontinued [1]. The Central Bank of Russia has decided to stop servicing cards of international payment systems Visa and Mastercard, previously issued by Russian banks [1].
The phasing out of these cards is expected to be an important step in the final transition of the domestic banking industry to national systems, primarily the Mir card [1]. While the exact timeline remains uncertain, the indication from the latest news is that the discontinuation process is actively being prepared by the Bank of Russia and likely will occur sometime in the near future following the July 2025 statement [1].
References: [1] ABC News Russia, "Russia to phase out Visa and Mastercard cards in mid-2025," 15 July 2025, https://www.abcnnews.ru/economy/russia-to-phase-out-visa-and-mastercard-cards-in-mid-2025/
The Central Bank of Russia has decided to stop servicing cards of international payment systems Visa and Mastercard, previously issued by Russian banks. With the Bank of Russia determining clear deadlines for when the use of these cards will be completely discontinued, Russian banks are proactively informing clients about the need to reissue Mir cards and are providing assistance with free or express card replacement.
