Russia and India are mulling the integration of their debit payment stacks in order to prevent negative affects on their common payment flow by a hypothetical extension of US sanctions.
The governments of India and Russia are considering integrating part of their payment systems, in order to counter the possible future effect of US sanctions on the capital flows of each country. The deal would include the integration of India’s Rupay card system and its Russian counterpart, Mir Cards, to allow seamless payments between the two countries.
There were also talks about a higher integration at the event, with authorities agreeing to further explore the interaction of the Unified Payments Interface , the Indian payment stack, and the Faster Payments System , its Russian counterpart.Singapore’s payments system, called Paynow, into its payment stack, allowing cross-border payments between the two countries without using additional payment bridges.of U.S.
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