Experts explain whether holders of international payment system cards, which have ceased operations in Russia, need to urgently switch to «Mir» cards.
The Central Bank of Russia (CBR) has stated that no «abrupt moves» are planned regarding the phasing out of Visa and Mastercard cards with extended validity periods. This clarification from Alla Bakina, Director of the CBR`s National Payment System Department, comes after public concern arose from an interview with Dmitry Dubynin, CEO of the National Payment Card System (NSPC), who discussed restricting cards with expired validity due to security risks. The financial authorities are currently debating the future of these cards and advising Russian citizens on what to expect.
Payment System Challenges
The question of replacing bank cards with expired validity has been a subject of discussion in Russia for several months. Following the departure of international payment systems Visa and Mastercard from Russia in March 2022 due to sanctions, cards issued by these systems continued to function domestically even after their stated expiration dates. This arrangement persisted for over three years, but in July 2025, the Bank of Russia announced its intention to introduce restrictions on the use of such payment instruments. Alla Bakina noted that the regulator would provide advance notice of any restriction deadlines, allowing domestic banks time to process their remaining foreign payment system cards.
In autumn, the debate over the future of Visa and Mastercard in Russia intensified. A new statement from the Central Bank became necessary after Dmitry Dubynin`s early October interview. He highlighted the need to limit the use of expired cards due to heightened risks, explaining that security certificates for all international payment system chips had become invalid as of January 1 of this year. The NSPC CEO added that his organization is currently gathering market consensus to present to the Central Bank. «Discussions have taken place, and we are now awaiting proposals from banks regarding potential timelines for phasing out these cards,» he clarified. His remarks led to significant social media speculation, with many cardholders interpreting them as a definitive end to these payment instruments by early 2026.
However, this interpretation proved incorrect. The Central Bank quickly moved to dispel the rumors, with Alla Bakina confirming that foreign payment system bank cards with expired validity continue to operate in Russia. She emphasized, «Since the international payment systems left, you know that the national payment card system and all market participants, including banks, did everything to ensure they worked, and our people felt no impact.» The Director of the CBR`s National Payment System Department reiterated that «no drastic steps» are planned for replacing expired payment cards. Currently, the regulator is engaged in a «dialogue with banks and the market» to address security concerns while ensuring uninterrupted card functionality. The issue of replacing expired cards exists, but the regulator is collaborating with market participants to find a convenient solution for everyone. Bakina stated, «This is indeed an important aspect… And here it is right not just to limit this period, but to synchronize with banks [regarding] how to carry out a smooth replacement.»
The Cost Implication
According to CBR data, as of January 1, 2025, 516 million bank cards were issued in Russia. Of these, «Mir» cards accounted for approximately 401 million, meaning around 115 million cards were issued by non-domestic payment systems, primarily Visa and Mastercard, with a smaller proportion from other systems. «This represents the upper estimate for `legacy` cards formally and potentially subject to gradual replacement, although the actual number of such cards is lower due to some being inactive,» explains Vladimir Chernov, an analyst at Freedom Finance Global.
Since January 1, 2025, the security certificates for Visa and Mastercard chips in Russia have expired, which is why the NSPC cites the necessity of restricting the use of expired cards. This is a technical reason for the future phased replacement, but the CBR simultaneously guarantees that there will be no «shock» disconnections, the expert clarified.
«Currently, the Bank of Russia does not intend to abruptly cease servicing Visa and Mastercard cards with extended validity, as this would violate the rights of financial service recipients and generally contradict Russia`s financial market development strategy,» notes Meri Valishvili, Master of Law and Associate Professor at the Department of State and Municipal Finance at Plekhanov Russian University of Economics. She adds that reissuing foreign payment system cards is not possible under current sanctions; they can only be replaced with «Mir» cards, which operate entirely within Russian infrastructure.
«Dmitry Dubynin`s comment about `security risks` means that old cards with extended validity cannot guarantee a modern level of protection (chip, tokenization, updated PCI DSS standards),» explains Yulia Kuznetsova, President of the Association of Investment Advisers of the Stock Market. «Therefore, banks will gradually replace them, without waiting for the mass expiration of their validity.»
Guidance from Financial Authorities
To understand the authorities` next steps, citizens should rely on the official positions of the regulator and banks, rather than rumors. According to Anastasia Uskova, an ombudsman in the field of digital financial technologies, the statements from Bakina and Dubynin are not contradictory but complementary. Dubynin addresses the risks: the expiration date on the plastic is not arbitrary. An outdated chip or worn magnetic stripe poses risks to payment security and can cause malfunctions in POS terminals, indicating that the «hardware» is aging. Simultaneously, Bakina outlines the plans: the CBR confirms that due to these risks, the card infrastructure needs gradual updating, but this will be done without drastic, panic-inducing measures, through dialogue with the market.
«My forecast is that Visa and Mastercard cards will continue to operate after January 1, 2026, but banks will likely intensify efforts for planned reissuance when clients request it, when the `hardware` expires, etc., to mitigate the risks mentioned by the NSPC,» Uskova added.
The expert advises Russians to contact their bank for a quicker card replacement under the following circumstances:
- You frequently use the physical card: inserting it into ATMs or terminals.
- The plastic has visible damage: the chip is worn, the card is bent, etc.
- You travel frequently (although these cards do not work abroad anyway, it`s better to have an up-to-date «Mir» card for interactions with local banks).
For other cardholders, replacements will occur as part of the natural process of banks interacting with their clients—when cash withdrawal is needed, if the plastic is damaged, or upon a scheduled offer from the bank itself, Uskova believes.
