The aggressive rise of Russia’s Mir payment system
As a Russian national payment system, Mir has 158 Issuers and 265 acquirers. Also its approval are spread over 11 countries. According to NSPK, 98.7 million cards have been issued in Russia as of May 1st, 2021.Thanks to the partnership, Russians who visits South Korea will become able to use their own Mir credit or debit card on BC Card’s 3.2 million companies in South Korea.
In advance, BC Card had cooperated with NSPK to join their payment network so as to build their cross-border payment structure and discard a necessity of extra exchange fee for international payment. BC Card will constantly advance its domestic ATM and POS terminal network to accept Mir cards.Choi Won-seok, a CEO of BC Card, said that “By collaboration with NSPK, we proved again the power of our own payment processing technology and biggest payment infrastructure in South Korea.” Also said that “We will continuously endeavour to provide differentiated experience for Mir cardholders with our payment convenience and innovative technology so as to enjoy our country much more pleasantly and extend transaction.”
Vladimir Valerievich Komlev, a CEO of NSPK, said that “It is a great to collaborate with BC Card, a preeminent payment company in South Korea. Together, we will continue our efforts to ensure Mir cardholders use their Mir cards conveniently during their trips to South Korea., once the epidemiological situation stabilizes and flights resume between Moscow and Seoul”.