YEREVAN, June 3. /ARKA/. Russia and Armenia have signed an agreement today on mutual servicing of cards of their national payments systems Mir (Russia) and ArCa (Armenia).
The agreement was signed by the Russian National System of Payment Cards, the operator of the Russian payment system Mir and Armenian Card, the operator of ArCa cards.

The sides are expected to set up a joint working group to coordinate organizational and technological interaction, the Russian National System of Payment Cards said in a press release.

"Mir payment system is now focused not only on the development of the network in Russia but also abroad. Armenia is a very important partner for us, with which we are now beginning a very important project," Vladimir Komlev, the director of the Russian National System of Payment Cards is quoted as saying in the press release.

The first banks to issue the Mir card were Gazprombank, MDM Bank, Moscow Industrial Bank, RNCB Bank, Rossiya Bank, Sviaz-Bank and SMP Bank.

The Mir payment system’s basic functionality includes cash deposits and withdrawals, goods and services payments, as well as card-to-card money transfers.

The Mir card payment system was created by the Russian Central Bank to cut reliance on US-based firms Visa and MasterCard. Both companies cut ties with a number of Russian banks subject to US sanctions in 2014. -0-