Russia and Iran have agreed on a plan to merge the Mir and Shetab payment systems
The central banks of the Russian Federation and Iran have completed work on the formation of stages of integration of the Russian payment system «Mir» and the Iranian Shetab, said the head of the Iranian regulator Mohammad Reza Farzin.
According to him, following the results of his negotiations with Elvira Nabiullina in St. Petersburg on July 4, “the project entered the operational phase.” It is expected that the integration of the two systems will take place in three stages. The first will begin at the end of August and will consist of the fact that bank cards of the Iranian network will become available for use in all ATMs in Russia in the form of a smart card, Iranian citizens will be able to withdraw cash rubles from their accounts. At the second stage, it is planned to connect the system in the interests of Russian citizens in Iran. On the third, Iranian cards will begin to work in Russian stores.
The first agreements between the Russian Federation and Iran on the Mir payment system were reported in 2022, recalls Kommersant.