The financier assessed the chances of returning Visa and MasterCard to Russia.
If Visa and MasterCard were to resume operations in Russia, they would likely have to go through legal procedures and meet business localization requirements again.
Ismail Ismailov, associate professor in the Department of International and Public Law at the Financial University under the Government of the Russian Federation, spoke about it. Within the country, Visa and MasterCard cards are processed through the participation of the National Payment Card System (NSCP).
In order to operate in the Russian market, it is likely that the systems will have to re-receive the necessary permits and register according to the established procedure. This is due, in particular, to the provisions of the law on the national payment system, according to which the operator must be a Russian company.
Ismailov named working mainly with international operations as one of the possible options to return. Such specialization can help customers make payments abroad - Russian cards still have restrictions in this area.