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Russian Center for New Financial Technologies (Fintjeh) banned the two most widely used payment systems in the world, Visa and Mastercard.

Russian authorities do not want foreign companies like Visa and Mastercard to give access to the latest financial technology in Russia. Spokes person Fintjeha told Vedomosti that this move is related to security issues.
Russia is promoting its own payment system, Mir. All Russian employees in state institutions and pensioners are obliged to replace their visas and mastercard debit cards with "peace cards".

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In May, only three percent of the Russians had the peace of a debit card, and 70 percent said they did not see the need for an alternative payment system. However, this move by Russia in the West was not expected. Now they are feverishly considering what Moscow meant.

With the promise that Putin had given orders that the affair of the cryptorubica was to come to an end, everything smells of the great distress that goes from Moscow to the West.

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Finteks was founded in December 2016 by the Russian Central Bank, Sberbank, VTB, Gazprombank, Alpha Bank and other large banks and financial institutions to develop and implement new technological solutions and digitization of the Russian economy.

They also work on developing remote identification methods, including biometric identification technology, implementation of a pilot blockade project, and the creation of a unique payment space in Russia.


"Maybe the center has projects that are not mentioned in public, it may be cryptographic protection and other security issues," said Alma Obayeva, the National Paying Council.