Visa, MasterCard to create Russian payment system operator over 1.5 years | Russia Beyond The Headlines:
"International payment systems Visa and MasterCard have expressed their desire to create a Russian payment system operator, and this process will take around 1.5 years, Finance Minister Anton Siluanov told journalists at the St. Petersburg International Economic Forum.
"They came to the government with a proposal of a way to mend relations over a 1.5 year [period]," he said after meetings with Visa and MasterCard representatives. This includes creating Russian Visa and MasterCard companies over the next 1.5 years, Siluanov said.
Before this, Siluanov said, the companies will have to cooperate with the Russian payment system."
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