Payment methods in Russia
Visa and Mastercard suspended operations in Russia in March 2022; Russian-issued Visa/Mastercard only work domestically
Market takeaways
- Visa and Mastercard suspended operations in Russia in March 2022; Russian-issued Visa/Mastercard only work domestically
- MIR card accounts for 66.7% of all domestic transactions; NSPK (MIR operator) was sanctioned by the US Treasury in February 2024
- SBP (Faster Payments System / СБП) enables real-time transfers via phone number at near-zero fees; available at 207 banks and 4.8M outlets
- E-commerce market valued at USD 63-87 billion in 2024; e-commerce reached 23% share of total retail (up from 5% in 2019)
- UnionPay (Chinese) is increasingly used by Russians needing international card functionality
Population
144M
Online population
~130M (90.4%)
B2C e-commerce
~$65B (2024 est.)
Banked population
~85%
Credit card population
~65%
E-commerce of total retail
~23%
Payment method breakdown
- Card (MIR / domestic)60%
- SBP Instant Transfer20%
- E-Wallet (SBPay, YooMoney)10%
- Cash7%
- Other3%
Card scheme breakdown
- MIR67%
- Visa (domestic only)17%
- Mastercard (domestic only)13%
- UnionPay2%
- Other1%
Cross-border e-commerce
Market data coming soon.
Featured payment methods in Russia
Popular options based on coverage and prominence in this market.
UnionPay
The dominant card scheme in Macau due to the large volume of mainland Chinese visitors and gamblers. UnionPay cards are accepted at casinos, hotels, and most merchants. As of November 2024, foreign-issued UnionPay cards can link directly with Alipay and WeChat Pay for added convenience.
MIR
Russia's national card payment system established by the Central Bank of Russia and operated by NSPK (National System of Payment Cards). By end-2024, over 400 million MIR cards had been issued, accounting for 66.7% of all domestic transactions. The US Treasury sanctioned NSPK in February 2024, which does not affect domestic usage but creates problems with MIR acceptance abroad.
Visa
Visa is the world's largest card network, enabling credit, debit and prepaid card payments online, in-store and at ATMs across virtually every market. In the listed countries Visa is a core internationally accepted scheme alongside local methods.
Mastercard
Mastercard is a leading global card network supporting credit, debit and prepaid card payments online, in-store and at ATMs worldwide. In the listed countries it is a core internationally accepted scheme.
QIWI Wallet (defunct)
QIWI was a major Russian electronic wallet and payment-terminal network. The Bank of Russia revoked Qiwi Bank's licence on 21 February 2024 for high-risk/AML violations, and the bank was liquidated in 2025. The QIWI Wallet service is no longer operational in Russia.
YooMoney (formerly Yandex.Money)
One of Russia's most popular e-wallets, operated by Sber. Enables online purchases, bill payments, and peer-to-peer transfers. Widely integrated into Russian e-commerce platforms.
All payment methods in Russia
Discover 16 payment methods from around the world
Featured banks in Russia
Major institutions operating in this market.
Industrial and Commercial Bank of China (ICBC)
Beijing, China
ICBC is the world's largest bank by total assets and the largest of China's 'Big Four' state-owned banks. It offers retail, corporate, and investment banking globally.
Bank of China (BOC)
Beijing, China
Bank of China is China's most internationally active bank, specialising in foreign exchange and cross-border trade finance. It is one of the Big Four state-owned banks.
Société Générale
Paris, France
Société Générale is a leading European bank offering retail banking in France and Eastern Europe, plus global markets and investment banking services.
OTP Bank
Budapest, Hungary
OTP Bank is Hungary's largest bank and the dominant financial institution in the country, with significant regional presence across Central and Eastern Europe and the Balkans.
Raiffeisen Bank International (RBI)
Vienna, Austria
Raiffeisen Bank International (RBI) is Austria's second-largest bank and a leading retail and corporate bank in Central and Eastern Europe, operating in 13 markets.
Sberbank
Moscow, Russia
Sberbank is Russia's largest bank and one of the world's top 50 banks by assets, state-controlled by the Russian government. It serves over 100 million individuals in Russia and abroad.
All banks in Russia
Showing 14 of 14 banks
