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Making Transactions Using Mir Cards in Iran

Russians Utilizing Mir Cards Can Now Process Payments at Iranian Terminals, as Reported by Iran's Central Bank, through Utilization of Technology...

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Russians using Mir cards can now perform transactions at Iranian payment terminals, as per Iran's...
Russians using Mir cards can now perform transactions at Iranian payment terminals, as per Iran's central bank, employing technological means.

Making Transactions Using Mir Cards in Iran

Announcing the nosie-free event marking the wrap up of the second stage of merging Russia's MIR and Iran's Shetab payment systems happened in Tehran.

Now, Iran's payment network supports NFC payments, even for small purchases without requiring PIN code input. This feature has been implemented for MIR Pay transactions within the merger of Shetab and "MIR" networks. Russian travelers and entrepreneurs can now make purchases at certain retail points using their Android phones. Russian cardholders can also conduct small transactions through MIR Pay on Shaparak terminals without the need for a PIN code, though larger transactions demand the PIN code.

The Iranian Central Bank's press service mentioned that key tourist locations in Iran, popular among Russians, have been updated with new technology.

The MIR card operates in 13 countries worldwide, excluding some limitations in 9 of them (Armenia, Venezuela, Vietnam, Kazakhstan, Laos, Moldova, Myanmar, Tajikistan, and Nicaragua) due to banking or merchant decisions, or nationwide unavailability. It functions without restrictions in Abkhazia, Belarus, Cuba, and South Ossetia.

Moreover, the card's implementation is registered in six countries: Indonesia, Malaysia, Nepal, Pakistan, Thailand, and Sri Lanka.

However, in February 2024, the U.S. decided to slap sanctions upon the National Payment Card System (NSPK) - the operator of the "MIR" payment system. Subsequently, various foreign banks announced a halt in their operations with MIR cards.

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The blend of MIR and Shetab payment systems has revolutionized financial transactions for Russian tourists and entrepreneurs in Iran, especially by means of Near Field Communication (NFC) payments. Here's what's changed:

NFC Game-changer

  1. NFC Tech Adoption: The fusion lets Russians swipe their MIR cards at Iranian terminals boasting NFC technology, offering a breezy payment experience. Eliminating the requirement for cash and making transactions more user-friendly for tourists and business travelers[3][4].
  2. Mir Pay App: Apart from NFC, Russians can also utilize the Mir Pay app on their smartphones to complete transactions at Iranian point-of-sale terminals. This digital payment method is a godsend for those wanting touchless transactions[2][4].

Transaction Twist

  1. Ease of Access: The fusion has streamlined transactions in Iran for Russians, boosting both tourism and trade. Key tourist locales have been prioritized in the rollout, ensuring Russians can quickly access payment services in these hotspots[3][4].
  2. Interoperability Spike: While the current phase focuses on Russian transactions in Iran, the final phase aims to unlock full interoperability between the two systems. This will eventually allow Iranian citizens to use their Shetab cards or related apps in Russia, further enriching cross-border transactions[2][5].
  3. Econ Benefits: The increased financial cooperation between Iran and Russia is part of broader attempts to offset the impact of international sanctions on their economies. By streamlining transactions, it is expected to stimulate trade and tourism between the two countries[4].

All in all, the blending of Mir and Shetab payment systems has created a more convenient and accessible payment environment for Russian tourists and entrepreneurs in Iran, bolstering both economic and cultural exchanges between the two nations.

  1. The integration of MIR and Shetab payment systems has brought a significant change to financial transactions for Russian tourists and entrepreneurs in Iran, particularly through the adoption of Near Field Communication (NFC) technology.
  2. Russian travelers can now make smooth, cashless transactions using their Android phones or MIR Pay app at Iranian point-of-sale terminals equipped with NFC technology.
  3. The fusion also offers benefits for Russians by enabling easier access to payment services at popular tourist locations in Iran.
  4. The ultimate goal of this merger is to create full interoperability between the two systems, making it possible for Iranian citizens to use Shetab cards or related apps in Russia, boosting cross-border transactions. This move is part of broader efforts to stimulate trade and tourism between Iran and Russia in response to international sanctions.

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