Mastercard and Visa block in Russia does not stop domestic purchases

Impact of US card giants' move diluted after local Mir payment system clarifies ban only affects foreign transactions

Consumers will still be able to use Mastercard and Visa-branded cards for domestic transactions in Russia, the country's state-backed payments network has said, reducing the impact of the US firms' decision to pull services over the invasion of Ukraine.

Russia's homegrown payments system Mir said the cardholders would still be able to access their funds, make withdrawals and domestic transfers - at least until their bank cards expire.