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Paul Antonopoulos — Russia, China discuss integrating payment systems

Summary:
Russian Prime Minister Dmitry Medvedev told reporters that discussions are being held between Russia and China to integrate their payment systems together."At the moment, issues of somehow linking the Mir card with Chinese payment instruments on the basis of the so-called co-badged cards are being discussed," Medvedev said."It will allow to use cards in transactions in Russia and on the territory of other countries. I view those prospects as very promising and they will allow to avoid the problems that sometimes emerge with the use of US payment systems," the Russian premier said.... Fort RussRussia, China discuss integrating payment systems Paul Antonopoulos

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Russian Prime Minister Dmitry Medvedev told reporters that discussions are being held between Russia and China to integrate their payment systems together.

"At the moment, issues of somehow linking the Mir card with Chinese payment instruments on the basis of the so-called co-badged cards are being discussed," Medvedev said.


"It will allow to use cards in transactions in Russia and on the territory of other countries. I view those prospects as very promising and they will allow to avoid the problems that sometimes emerge with the use of US payment systems," the Russian premier said....
Fort Russ
Russia, China discuss integrating payment systems
Paul Antonopoulos
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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