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Russia buys bank card chips from China

The state-owned operator of Russia’s Mir payment system is turning to Chinese suppliers to procure bank card chips. “We are looking for new microchip suppliers and [have] found a couple in China, with certification process ongoing,” Oleg Tishakov, a member of the board of National Card Payment System (NSPK) told Reuters. Due to sanctions imposed following the Ukraine war, Russian companies no longer have access to Western-made tech products. NSPK has been issuing the now widely used Mir card since 2014. It is a local debit card that works independently of US payment service providers Visa and Mastercard. fin

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