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6 Dec, 2023 15:08

Caribbean country embraces Russia’s alternative to MasterCard

Mir payment cards are now reportedly accepted in popular tourist destinations in Cuba
Caribbean country embraces Russia’s alternative to MasterCard

Cuba has started accepting Russia's Mir payment cards at point of sale (POS) terminals, the press service of the Russian National Payment System (NSPK) has said.

According to a statement released on Tuesday, the cards will first be accepted in popular tourist locations, including the Cuban capital Havana and the resort town of Varadero.

“Tourists from Russia can now use Mir cards to pay in stores, hotels, restaurants, and other commercial and service establishments throughout the country,” the statement reads.

“We will work with our partners to ensure that in the near future our cards are accepted throughout Cuba. Payments with Russian cards are made at the rate set by the Mir payment system. We're trying to make it as viable as possible,” said the head of NSPK Vladimir Komlev.

In March, Cuba announced the launch of Russia’s alternative to Western payment cards. Several banks in Havana have installed ATMs displaying the Mir logo, and offer an option to withdraw cash using Russian bank cards in Cuban pesos.

Russia’s Mir payment system has experienced a steady increase in demand for new cards since last year, according to the system’s operator. Around ten countries worldwide currently use the system, while approximately 15 others have expressed an interest in adopting it.

Last month, Venezuela’s Foreign Minister Yvan Gil Pinto said that Mir is now accepted throughout the country. Caracas started accepting the Russian payment cards in June 2023.

For more stories on economy & finance visit RT's business section

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