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Cuba supports the «MIR» card, Armenia refuses it


March, 19 2024
watermark Economic news

Cuba will make accepting Mir payment system cards a prerequisite for the operation of any institution on the island. To date, the card is already accepted in the country, but not yet in all commercial and service enterprises of the country. 


This was stated by Cuban Tourism Minister Juan Carlos Garcia Granda. The minister added that in order to start accepting Mir cards at all retail outlets, each POS terminal will need to be reprogrammed separately.


Currently, about 20 thousand retail outlets in Cuba are already equipped with the necessary equipment to accept Mir cards. Since the introduction of the system on the island in March 2023 and up to today, about $2.7 million worth of transactions have been carried out through it.


At the same time, Armenia made a statement that from March 30, 2024, the country will stop accepting Russian Mir bank cards, with the exception of the infrastructure of VTB's Armenia subsidiary. This change will affect the use of cards in ATMs and POS terminals throughout the country, with the exception of devices owned by VTB Armenia.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.