Today on November 11, in an official ceremony in Tehran with the presence of Iranian CBI Governor Mohammad Reza Farzin, and a group of bank CEOs, Russia’s Mir network was connected to Iran’s banking network (Shatab).
By connecting the two countries’ local payment systems, Iranian banking cards can be used at automated teller machines (ATMs) in Russia.
Therefore, every person with an Iranian banking card can receive his funds in rubles from Russian ATMs.
Central Bank of Iran (CBI) further said that the second phase of the link-up process will allow Russian nationals to use Iranian ATMs and the third phase will make Iranian Shetab cards acceptable at point-of-sale (POS) terminals installed in Russian stores.
Iranian CBI Governor Mohammad Reza Farzin had earlier said that the deal to connect Russia’s Mir and Iran’s Shetab payment systems had been finalized during his talks with Russian officials on the sidelines of the Financial Congress of the Bank of Russia in St. Petersburg in July.
Iran and Russia, both subject to illegal Western sanctions, have over the past years deepened their relations in various fields, including economy and trade.
They are also in talks to launch a payment messaging service that could rival SWIFT, a dollar-based international system that has banned the two countries because of US pressure.
source: southfront.press/russias-mir-payment-system-connected-to-irans-shetab/
