National Russian card payment system established - page 2.

sana8410

sr. member

Activity: 448

Merit: 250

Quote from: bryant.coleman on May 06, 2014, 02:46:24 AM

http://rt.com/business/156912-russian-putin-card-payment

Not related to Bitcoin, but this move is a very serious blow to the Master / Visa. The American credit card companies will lose billions of $$$ in revenue from Russia, Belarus and Kazakhstan.

National Russian card payment system established

Quote

Russian President Vladimir Putin signed into law the establishment of a national Russian card payment system on Monday. The NSPK (National Card Payment) system will ensure the smooth operation of electronic payments across Russia. Both Visa and MasterCard blocked specific US-sanctioned Russian banks from using their payment systems in March amid the crisis in Ukraine, prompting sharp criticism for blocking bank operations.

The West tries to strangle Russia with sanctions and Russia just stops buying western stuff and setting up its own payment systems. Superb! This is what I love about the Russians - no messing around!

umair127

sr. member

Activity: 378

Merit: 250

Quote from: bryant.coleman on May 06, 2014, 02:46:24 AM

http://rt.com/business/156912-russian-putin-card-payment

Not related to Bitcoin, but this move is a very serious blow to the Master / Visa. The American credit card companies will lose billions of $$$ in revenue from Russia, Belarus and Kazakhstan.

National Russian card payment system established

Quote

Russian President Vladimir Putin signed into law the establishment of a national Russian card payment system on Monday. The NSPK (National Card Payment) system will ensure the smooth operation of electronic payments across Russia. Both Visa and MasterCard blocked specific US-sanctioned Russian banks from using their payment systems in March amid the crisis in Ukraine, prompting sharp criticism for blocking bank operations.

Russia had to choose this over bitcoin, I guess they fear it so bad, they decided to make there own system. Well is to bad cause its only gonna benefit but hes clearly not thinking about his people. must be alot of money involved in this

Balthazar

legendary

Activity: 3108

Merit: 1359

Bitcoin is incapable with such transaction rate. There are no decentralized cryptocurrencies which would be able to work as national payment system. Too many scalability issues there waiting for a solution before it will be possible.

serejandmyself

hero member

Activity: 1203

Merit: 508

Manager of looking busy #citizencosmos

Would be better if we chose bitcoin Grin

Wilikon

legendary

Activity: 1176

Merit: 1001

minds.com/Wilikon

Quote from: Carlton Banks on May 06, 2014, 11:19:20 AM

Sounds awkward, creating a Russia based payment network. Visitors to Russia will have to find some apolitical, universal payment network that is difficult to block...

Bitcoin?

Carlton Banks

legendary

Activity: 3430

Merit: 3079

Sounds awkward, creating a Russia based payment network. Visitors to Russia will have to find some apolitical, universal payment network that is difficult to block...

bryant.coleman

legendary

Activity: 3752

Merit: 1217

Quote from: BasilHawkins on May 06, 2014, 10:30:09 AM

They should have done this years ago like china does.

Better late than never.

I am not a fan of this new system, but it will negatively affect some of our worst enemies. Grin

BasilHawkins

member

Activity: 69

Merit: 10

They should have done this years ago like china does.

bryant.coleman

legendary

Activity: 3752

Merit: 1217

http://rt.com/business/156912-russian-putin-card-payment

Not related to Bitcoin, but this move is a very serious blow to the Master / Visa. The American credit card companies will lose billions of $$$ in revenue from Russia, Belarus and Kazakhstan.

National Russian card payment system established

Quote

Russian President Vladimir Putin signed into law the establishment of a national Russian card payment system on Monday. The NSPK (National Card Payment) system will ensure the smooth operation of electronic payments across Russia. Both Visa and MasterCard blocked specific US-sanctioned Russian banks from using their payment systems in March amid the crisis in Ukraine, prompting sharp criticism for blocking bank operations.

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