UZCARD, Uzbekistan’s interbank processing center, has reportedly suspended processing payments through the Mir payment card issued by the Bank of Russia’s National Card Payment System (NSPK).
UZCARD said the suspension was due to technical problems and not in response to US sanctions imposed on NSPK CEO Vladimir Komlev last week, Reuters said on Friday (September 23). ).
Technical maintenance procedures have been carried out by the paying Uzbekistan partner banks, who were asked to suspend the payment process temporarily for the maintenance work, said Sobirjon Mahmudov, head of public affairs at UZCARD, in a report. said in
PYMNTS has reached out to both UZCARD and NSPK for comment.
The US and other countries began imposing broad sanctions on Russian banks in February, shortly after Russia’s invasion of Ukraine.
At the same time, the Bank of Russia has taken measures to support the banking sector and the Russian ruble, including relaxing some banking regulations and instructing banks to consider postponing the issuance of dividends and bonuses to managers. began to teach
READ MORE: Bank of Russia: Sanctions May Prevent Card Use
The history of NSPK, which oversees card transactions in Russia, dates back to 2014, when Russia was sanctioned for its previous invasion of Crimea.
NSPK launched Mir, a card network, in 2015. As of March, Mir cards were only accepted in a handful of countries outside of Russia, most of them in the former Soviet Union.
Read more: Avoiding Russian Payment Systems, Mastercard and Visa Departure
Increased scrutiny of transactions between Russian banks and companies outside Russia’s borders highlights the need to ensure financial institutions and their dependents know who is on the other side of the transaction, said nsKnox COO. One Nithai Barzam told PYMNTS Karen. Webster in May.
Read more: Automated verification of bank account holders is key to sanctions compliance
Barzam said that when onboarding counterparties, you should check to see if they appear on the sanctions list, among other things.
For all PYMNTS EMEA coverage, subscribe to our daily EMEA newsletter.
New PYMNTS Survey: How Consumers Use Digital Banks According to a PYMNTS survey of 2,124 US consumers, two-thirds of consumers use FinTechs as part of their banking services. while only 9.3% called it their main bank.
Sign up for our daily newsletter.
You have joined the subscriber list.
We were always looking for opportunities to partner with innovators and disruptors.
Find out more here: Bank of Russia, Banking, Cross-Border Payments, Digital Payments, EMEA, News, Russia, Ukraine, Uzbekistan, UZCARD, What’s Hot
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
- “Grandfather” of the United States, Ream has become indispensable in Qatar
- Top 8 Black T-Shirts For Men: Top Picks | Most Wanted Products
- Will this popular alternative to stocks improve further in 2023?
- Who are the leading innovators in AR/VR eyewear for the medical device industry?
- COVID-19 – Down with Xi Jinping: Protests against China’s heavy Covid-19 restrictions
- Spain Davis Cup Tennis | National
- The former GOP lawmaker has identified a “bigger problem” after Trump’s dinner
- Magnitude 4.0 and 4.8 magnitude earthquake off the west coast of Vancouver Island
- Gujarat polls: Prime Minister Modi and Kejriwal to launch latest campaign leg in Surat today
- Google Merchant Suspension – Shopify Community
- NYU Advanced International Taxation | News & Insights
- UK Secretary Visits Australia for Indo-Pacific Talks