Iran’s Tourism Bank Joins Russia’s MIR Payment Network
WANA (Nov 13) – Iran’s Tourism Bank has officially joined Russia’s MIR payment network, following the launch of the first phase connecting Iran’s Shetab card payment network with MIR.
According to a statement from the bank’s public relations office, the unveiling ceremony took place at the Central Bank of Iran, where Tourism Bank became one of the first eight banks in the country to integrate with the MIR network.
The integration allows customers of Tourism Bank to withdraw funds in rubles from ATMs in Russia, providing an innovative service for cardholders. The project aims to promote the use of national currencies in financial transactions and facilitate tourism between the two nations.
In the second phase of the project, Russian nationals visiting Iran will also be able to withdraw Iranian rials from Tourism Bank’s ATMs. The third phase will enable Shetab cardholders to make payments at merchants in Russia.
How to Access the MIR Network?
Tourism Bank customers can link their bank cards to the platform provided by the Central Bank of Iran, using mobile devices with NFC capabilities to access the service via ATMs in Russia through a “Tap and Go” feature.
This initiative is particularly appealing to customers in the tourism sector, as it simplifies currency exchange. With this system, customers can directly use their bank cards without needing to convert money into foreign currencies, initially withdrawing rubles in Russia and later using their cards at retail merchants.
The new system eliminates the need for currency exchange, particularly the use of the dollar, as it supports the use of national currencies.
The successful launch of this project has sparked hopes that similar partnerships may soon be established with countries like Iraq and Turkey, which have strong financial and tourism ties with Iran.
Currently, eight Iranian banks have connected to the Russian ATM network. Mellat, Refah, Saderat, Pasargad, Sepah, Melli, Tejarat, and Tourism banks are connected to the MIR system in Russia. Cardholders from these banks can make purchases within Russia as if they were in Iran.
The “Mir” to “Shetab” Connection Model Could Also Be Implemented for Iraq and Turkey
WANA (Nov 11) – An advisor to the Governor of Iran’s Central Bank announced that Iran intends to apply the model of connecting Russia’s “Mir” banking network to Iran’s “Shetab” network for other regional countries, such as Iraq and Turkey. Speaking to reporters, he stated: “Given the extensive social interactions with countries like Iraq, […]
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