Sberbank, Russia’s largest bank by assets, Alfa Bank and Tinkoff Bank said Sunday they were working on the possibility of issuing cards powered by China’s UnionPay. Another Russian lender, Gazprombank, said customers can do cross-border transactions by getting cards that use UnionPay or Japan’s JCB system.
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Russian banks turn to China to sidestep cutoff from payments systems
Alfa Bank said Sunday that its customers’ Visa and Mastercard cards will face restrictions on their use outside Russia starting March 10. It urged users abroad to withdraw cash in the meantime.
