Visa and MasterCard are engaged in discussions with Russian payment systems and processing firms to organize processing in the country, business daily Vedomosti has reported.
Visa and MasterCard previously stopped processing cards issued by some Russian banks, due to the US sanctions.
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After which Russia passed a law requiring foreign payment processors to provide security deposit to Russia central bank equivalent to the value of two days of transactions processed in the country, to ensure uninterrupted services.
Following Russia government decision to create its own payment system, both Visa and MasterCard planned to exit the country in May 2014.
However, both companies altered their plan following a meeting with Deputy Prime Minister Igor Shuvalov and Finance Minister Anton Siluanov, according to themoscowtimes.com.
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