Russia to Phase Out Visa and Mastercard Cards by 2028

After Visa and Mastercard withdrew from Russia in 2022 following the invasion of Ukraine, millions of their cards continued to operate domestically under the National Payment Card System (NSPK). Russian officials plan to eliminate the remaining foreign‑issued cards by cutting the interbank transaction fee to 1 % in 2027 and to zero in 2028, a move they say will “force banks to phase the cards out completely.”

NSPK CEO Dmitry Dubynin explained that while the cards are still supported for citizens’ convenience, they incur significant costs and lack access to loyalty programmes. By early 2026, Russia’s domestic Mir cards already handled over 75 % of transactions, while Visa and Mastercard accounted for about 17 % of bank‑issued plastic at the end of May. The fee‑reduction strategy replaces an earlier proposal for hard expiration dates that was blocked by local banks.

Security certificates for the foreign cards’ chips are set to expire at the start of 2025, adding another incentive to retire them. The gradual fee squeeze is presented as a compromise to avoid market disruption while reducing support expenses.