The central banks of Turkey and Russia are discussing the use of the Turkish national payment system Troy instead of Mir cards for non-cash payments. This was reported by the Aydinlik newspaper, citing sources.
According to the newspaper, “there has been some progress” on this issue after the 15th meeting of the central banks of Russia and Turkey.
If the Central Bank of the Russian Federation approves Turkey’s proposal, Russian banks, which are not subject to US sanctions, will be able to open an account with Turkish banks that operate in Russia and are also integrated into the Troy system. After that, the credit organizations of the Russian Federation will be able to issue the corresponding card.
The Turkish Troy system was launched by the Interbank Card Center (BKM) in 2016, when Turkey got its own payment system. As of March 2022, there are more than 12 million Troy cards in circulation. This system occupies more than 4% of the Turkish market.
Earlier, Aydinlik reported that a payment system may appear in Turkey, which will become an alternative to Russian Mir cards.
Five banks in Turkey stopped working with Russian Mir: Ziraat Bank, Vakifbank, Halkbank, Is bankasi and Denizbank.
Author:
anastasia mariana
Source: RB
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