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MKB and DOM.RF plan to issue UnionPay cards

The Izvestia publication, citing representatives of credit organizations, reported that cards from the Chinese payment system UnionPay plan to start issuing two more large Russian banks – MCB and DOM.RF.

The press service of the MKB reported that the bank is considering the possibility of issuing UnionPay cards. DOM.RF plans to start issuing UnionPay cards approximately in 2023, the product will be combined with the Mir card.

Alexey Voylukov, Vice-President of the Association of Banks of Russia, believes that UnionPay can take up to 5-8% of the payment card market in the Russian Federation. Now 11 banks can officially issue such cards, several more organizations are undergoing approval procedures with the payment system, he specified.

UnionPay was founded in 2002. The payment system received international status in 2005. Among the 180 countries where UnionPay operates, in particular, are Switzerland, Greece, Italy, Spain, Germany, Mexico, Cyprus, Thailand, India, Israel, Portugal, Croatia, Poland, Serbia, Hungary, Austria. Currently, according to the UnionPay website, in the Russian Federation, the opportunity to issue UnionPay cards is available at Gazprombank, Rosselkhozbank, Promsvyazbank, Saint Petersburg Bank, RRDB, Solidarity Bank, Primsotsbank, Post Bank, Primorye banks and “Zenith”.

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