News Forum - Mastercard and Visa suspend services in Russia, Russian banks downplay effects

[HiuMak]

Worst case scenario is barter trade. Still can survive

[Stardust]

40 minutes ago, Cabra said:

Unionpay is only as helpful to the consumer as the number of merchants who accept unionpay enabled credit/debit cards. Not as big a problem if you live in China or the Indochina peninsula. A much bigger probably if you live anywhere else. There are always workarounds. Still would not want any of my accounts denominated in Rubles, regardless. 

The Ruble lost 90% of its value to the usd compare before the invasion just in the news. That creates now a hyperinflation in Russia (Inflation rate over 50%)

https://www.cnn.com/business/live-news/stock-market-news-russia-ukraine-030722/index.html

 

[CamPat]

On 3/8/2022 at 12:54 PM, Stardust said:

I guess you really not understand the swift system because also the Chinese have to use swift including union pay!

Well i do disagree with you because Union Pay does not use Swift. Therefore many Russians and Chinese already have Union Pay since quite some time.  Before you spread your fake news do some research first.

https://en.wikipedia.org/wiki/UnionPay

 

 

[CamPat]

On 3/6/2022 at 3:44 PM, KRLMRX said:

Russia has its own MIR payment system, which operates in such tourist destinations as Turkey, Cyprus, the United Arab Emirates, and Vietnam. I think Thailand will join it soon.

In addition, there is the Chinese UnionPay system, which operates worldwide, Russian banks also issue bank cards with this system.

That is, from the point of view of the daily use of bank cards, nothing has changed, except for the problems of those who are now abroad.

So why did it have to be done? MIR and UnionPay developers say thank you.

You know the facts. Thank you.

[Stardust]

19 hours ago, CamPat said:

Well i do disagree with you because Union Pay does not use Swift. Therefore many Russians and Chinese already have Union Pay since quite some time.  Before you spread your fake news do some research first.

https://en.wikipedia.org/wiki/UnionPay

Before you spread your fake news show me which atm is not over swift or anything I refered to. And by the way if there will be ledt loop holes they will close it, no problem. UN and the world is behond it so they also will go on any country or bank who wanna go under the sanctions. By the way the allied democracies have over 60% of the worlds gdp and just the european and western have over 40% of the gdp. So what? Who will win is very clear already and by the way Russian fedaration/allies is 1,3 of the worlds gdp before the invasion . Good luck to challenge and even with China together no chance at all against that it is clear they have no power to against it too small to be against the world. China is not able in no way to challenge the swift otherwise they will be quickly out of trade and business and bankrupt like Russia.