National Russian card payment system established

[trader001]

USA leadership thinks that Putin and his team are stupid.

You can fool Russian's (Putin/Medvedev) once (Lybia......)

but you can't full them twice (Syria, Ukraine).

Now no more Visa&Master, year from now no more USD.....

Can't get to the top in Russia if he is incompetent.

[bryant.coleman]

+1

but 90% off all countries leaders can't say no to USA

I'm from Croatia, and our foreign policy is made by USA embassy in Zagreb

Too hard to shrug off the US dominance once it takes hold. The USA used the Balkan wars to cement its place in the ex-Yugoslavia. Now all the nations there are under its grip.

[bryant.coleman]

Russia’s payment system not replacement, but needed alternative to Visa, MasterCard

http://rt.com/business/161088-russia-payment-system-gref

[kuroman]

Russia’s payment system not replacement, but needed alternative to Visa, MasterCard

http://rt.com/business/161088-russia-payment-system-gref

It is a replacement on the national scale it is not on the international scale, it would similar to what exist in France = CB (Carte blue) system, where you have your credit card, with CB compliance and either VISA or Mastercard so that you can use your credit card when you are traveling or doing payement to international websites and stuff

[stompix]

National Russian card payment system established
May 06, 2014, 06:46:24 AM

May 26th , no it's not. Visa and Mastercard still playing chess with the government and winning

[Robin_Good]

I think Russia is not strong enough to create own competitive national payment system

[bryant.coleman]

I think Russia is not strong enough to create own competitive national payment system

lol... Strong enough for what? Even the neighboring Belarus is having its own national card payment system. You want to say that financially, Russia is in a weaker position when compared to Belarus?

[TaunSew]

Russia's GDP is smaller than California, so meh.

on the other hand Visa takes a 1% to 4% of your sales in fees, when a lot of businesses make less than 5% of revenue in net profit.  A cheaper Russian alternative would help Russian businesses and keep the money in Russia

[bryant.coleman]

Russia's GDP is smaller than California, so meh.

As far as I know, California is bankrupt, while Russia's GDP is still growing at a good pace. Anyway what this has to do with the payment system? Are you saying that only countries with GDPs higher than that of California are entitled to national payment sytsems? 

Note: Latest figures indicate California's GDP at $1.8 trillion. The Russian GDP is officially at $2.0 trillion, but after including the informal sector (quite big in Russia) it might increase to $3.0-3.5 trillion.