Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Apple closes Russian Mir card loophole for Apple Pay, says Sberbank

Published 26/03/2022, 03:24 am
© Reuters. FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar
AAPL
-
SBNCyq
-

(Reuters) - U.S. tech giant Apple has suspended its Apple Pay service for Russia's Mir card payment system, Russia's largest lender and payments system said on Friday, closing a loophole that had allowed Russians to keep using the service.

Apple Inc (NASDAQ:AAPL) restricted the use of Apple Pay, which began operating in Russia in 2016, on March 1 in the wake of Russia's decision to send tens of thousands of troops into Ukraine on Feb. 24, preventing Russian Mastercard (NYSE:MA) and Visa (NYSE:V) cardholders using the service.

But Russia's home-grown system, Mir, remained connected to Apple Pay until that access was removed on Thursday, according to Russia's National Card Payment System (NSPK).

"Apple has informed NSPK it is suspending support for Mir cards in the Apple Pay payment service. Starting from March 24, users cannot add new Mir cards to the service. Apple will stop all operations of previously added cards over the next few days," NSPK said on Friday.

© Reuters. FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar

Russia's dominant lender, Sberbank, said that Apple, which did not respond to Reuters requests for comment, had informed the bank of its decision to further restrict access to its Apple Pay service.

"Further use of Mir cards in Apple Pay will not be available," the bank said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.