YEREVAN, March 30Armenian banks will stop servicing Mir cards from Saturday, March 30, the Armenian payment system ArCa reported.
The National Payment Card System (NSCP), the operator of the Mir payment system, received on March 19 an official notification from the Armenian payment system that from March 30, 2024, ArCa member banks will stop servicing Mir cards․
At the same time, VTB Armenia Bank, which services Mir cards in its infrastructure in full, will continue to operate in the republic with Russian cards. Holders of Mir cards of any Russian banks still have access to key services in the VTB Armenia infrastructure: cash withdrawals from ATMs of this bank, payment for services in its online bank. Transfers are also available using VTB Armenia cards, including cross-border ones. There are 53 VTB branches in Armenia, 22 of which are located in Yerevan. More than 190 ATMs throughout the country are also available to customers, NSPK emphasized.
The Union of Banks of Armenia reported that the decision to stop servicing Mir plastic cards was made due to the risk of secondary sanctions. The union clarified that these risks arose when the US Treasury Department's Office of Foreign Assets Control (OFAC) announced sanctions against the Mir payment and settlement system.
At the same time, the Armenian Central Bank clarified that the country’s commercial banks independently decide which payment systems to cooperate with, based on their risk management strategy, including those related to sanctions. The regulator recalled that, at the same time, commercial banks are obliged to properly inform their clients if the conditions of their service change.
Meanwhile, the NSPK assured that the Mir payment system on its side does not limit work with foreign partners, however, banks of other countries make the decision to accept Mir cards in the network of their devices independently. It was also indicated that work with friendly countries to accept Mir cards in their infrastructure continues.
Commenting on the situation, official representative of the Russian Foreign Ministry Maria Zakharova said that the Russian side has seen reports about the cessation of the work of “Mir” cards in Armenia, they require additional clarification, which is what the relevant departments and the government as a whole are doing.
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