The Mir payment system: what it is and its advantages

The Mir payment system is a Russian card payment system. Its creation is linked to the development of the country’s own payment infrastructure. The operator is the National Payment Card System (NSPK).

In the source materials the launch of the system is dated 2017.

One of the first banks to start issuing cards under the Mir brand was Sberbank.

The system became widespread in Russia thanks to government support. According to the source data, Mir cards were issued by more than 64 banks.

Mir is Russia’s national payment system, whose development is supported by the state.

History of the creation of the Mir payment system

The National Payment Card System was created in July 2014.

Its appearance is linked with the sanctions against Russia introduced earlier that year. Because of the restrictions, Russian cardholders and merchants temporarily faced being unable to carry out transactions through some international payment networks.

By December 2015 NSPK had developed the technical infrastructure and concluded the commercial agreements needed to start issuing Mir cards.

The system was created for domestic payments and to reduce dependence on foreign payment infrastructure.

Mir cards are also intended for paying for goods on the internet.

One of the goals of the system’s development is to combine payment, non-financial and government services within one card.

What advantages the Mir payment system has

For Russian companies one of the advantages of the system is its state support.

Mir cards can be debit and credit.

According to the source data, the number of cards issued exceeded 73 million. Thanks to its spread inside the country, the system became a notable participant in the card payments market.

One of Mir’s main tasks is ensuring the security of money transfers.

Another goal is to maintain the stability of government payments and reduce their dependence on economic and political factors.

A developed network of banks supporting the system in Russia makes it a convenient way to pay for businesses operating in the domestic market.

The source material also notes the possibility of using the cards in all the republics and by certain international companies operating in Russia.

How to get a Mir card

A Mir card can be obtained not only in plastic but also in virtual format.

Under certain conditions a virtual card can be obtained without visiting a bank branch.

To get a physical card you need to apply to a bank that takes part in the payment system.

The list of banks can be checked on the Mir website.

The terms of issuing and servicing cards depend on the chosen bank and plan.

The source material noted that the cost of servicing and reissuing Mir cards is in most cases lower than that of foreign payment systems. It also stated that social cards are serviced free of charge.

So before applying it is worth studying the terms of a specific bank, including the cost of issuing, servicing and reissuing the card.