Russia is preparing to gradually withdraw Visa and Mastercard cards from circulation following the expiration of their security certificates in early 2025. Financial institutions must first agree on alternative payment solutions before submitting proposals to the Central Bank for review.
Expired Certificates Raise Security Risks
The head of the National Payment Card System (NSPK), Dmitry Dubynin, explained that the security certificates for all Visa and Mastercard cards in Russia expired on January 1, 2025. He warned that using such cards under current conditions poses security risks, as expired certificates directly affect the safety of financial operations.
“It is advisable to begin gradually withdrawing these cards from circulation,” said Dubynin. “However, before proceeding, the market must develop a common position and determine suitable alternatives to Visa and Mastercard.”
Once consensus is reached, the proposals will be submitted to the Central Bank for consideration, he added.
Central Bank Promises 'Reasonable' Transition Period
In late July 2025, the Central Bank of Russia (CBR) stated that it would set a “reasonable” timeframe for replacing Visa and Mastercard cards. The regulator emphasized that there is no need for an immediate replacement, encouraging banks to approach the issue thoughtfully.
As a potential substitute, the CBR pointed to the Russian Mir card. However, it stressed that the switch should occur “only at the customer’s request.” If a client declines to replace their card, banks should not compel them to do so. Still, expired security certificates mean that extending the use of Visa and Mastercard indefinitely will not be possible.
Central Bank to Limit Use of Expired Cards
After Visa and Mastercard exited the Russian market in 2022, domestic banks extended the validity of existing cards but stopped issuing new ones. While these cards stopped functioning abroad, they continued to work inside Russia.
In July 2025, the CBR announced plans to limit the validity period of such cards. According to Alla Bakina, Director of the National Payment System Department, the move aims to curb financial fraud, as criminals often exploit expired cards. The new restrictions are intended to close this loophole while giving banks enough time to replace outdated cards.
Visa and Mastercard Unlikely to Return Before 2027
Industry experts agree that a quick return of international payment systems to Russia is unlikely. According to financial logistics and cross-border payment expert Alexander Vais, Visa and Mastercard are unlikely to take any steps toward returning before 2027. Their comeback depends on both the technical readiness of banks and the easing of sanctions against the Russian financial sector — neither of which are currently visible, he emphasized.
“Even under the most optimistic scenario, it would take at least two years to resume mass issuance of Visa and Mastercard cards,” Vais noted.
Visa and Mastercard May Face New Conditions if They Return
According to Sergey Pliskanos, Head of the Payment Cards Department at Ingosstrakh Bank, a return of Visa and Mastercard to Russia would not mean a return to previous conditions. Their operations could resume only under new technical and financial terms. Should they return, the systems would need to interact directly with the NSPK, while Russian banks would assume responsibility for card issuance and servicing.
“This would be the fastest technological solution,” Pliskanos concluded.
