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Mir (payment System)
Mir (, ; ) is a Russian card payment system for electronic fund transfers established by the Central Bank of Russia under a law adopted on 1 May 2017. Russian National Card Payment System, a wholly-owned subsidiary of the Central Bank of Russia. Mir does not itself issue cards, extend credit or set rates and fees for consumers; rather, Mir provides financial institutions with Mir-branded payment products that they use to offer credit, debit, or other programs to their customers. The development and implementation of Mir was spurred by the imposition of international sanctions against Russia in 2014 to circumnavigate the reliance on the likes of Visa and Mastercard, which were blocked in Russia at the time. Mir created its own digital wallet for contactless payments. History Mir, as an idea, was born out of a series of joint initiatives between the Central Bank of Russia and the World Bank in the mid-2000s that aimed to create a framework of an autonomous payment processing s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Joint-stock Company
A public joint-stock company, abbreviated PJSC (, abbreviated ) or open joint-stock company, abbreviated OJSC (, abbreviated ), is a type of company in many successor states of the Soviet Union, particularly in Russia. Its distinguishing feature is the right of stockholders to trade in stocks without the permission of other stockholders. These public stock companies are somewhat comparable to corporations under US law. Examples in Commonwealth of Independent States, CIS See also * Types of business entity in Russia * Government-owned corporation#Belarus * Unitary enterprise References External links Public joint-stock company at International Legal Corporation Economy of Russia Types of business entity {{Russia-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. Debit cards are similar to a credit card, but the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a Stored-value card, stored value with which a payment is made (prepaid cards), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aeroflot
PJSC AeroflotRussian Airlines (, ), commonly known as Aeroflot ( or ; , , ), is the flag carrier and the largest airline of Russia. Aeroflot is headquartered in the Central Administrative Okrug, Moscow, with its hub being Sheremetyevo International Airport. The Federal Agency for State Property Management, an agency of the Government of Russia, owns 73.77% of the company, with the rest of the shares being public float. During the time of the Soviet Union, Aeroflot was one of the largest airlines in the world. In 1992, following the dissolution of the Soviet Union, Aeroflot was divided into approximately 400 regional airlines informally known as Babyflots and was restructured into an open joint-stock company. It has a market share in Russia of approximately 42.3%. Including subsidiaries, the company carried 55.3 million passengers in 2024. Aeroflot also owns Rossiya Airlines and Pobeda, a low-cost carrier. The Aeroflot fleet, excluding subsidiaries, includes 171 airplanes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In its early years, it primarily focused on rebuilding Europe. Over time, it focused on providing loans to developing world countries. In the 1970s, the World Bank re-conceptualized its mission of facilitating development as being oriented around poverty reduction. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Visa Inc
Visa Inc. () is an American multinational payment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Visa does not issue cards, extend credit, or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash access programs to their customers. In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visa's global network (known as VisaNet) processed 100 billion transactions during 2014 with a total volume of US$6.8 trillion. This article is authored by a ''Forbes'' staff member. Visa was founded in 1958 by Bank of America (BofA) as the BankAmericard credit card program. Available through SpringerLink. In response to competitor Master Charge (now Mastercard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Press International
United Press International (UPI) is an American international news agency whose newswires, photo, news film, and audio services provided news material to thousands of newspapers, magazines, radio and television stations for most of the 20th century until its eventual decline beginning in the early 1980s. At its peak, it had more than 6,000 media subscribers. Since the first of several sales and staff cutbacks in 1982, and the 1999 sale of its broadcast client list to its main U.S. rival, the Associated Press, UPI has concentrated on smaller information-market niches. History Formally named United Press Associations for incorporation and legal purposes but publicly known and identified as United Press or UP, the news agency was created by the 1907 uniting of three smaller news syndicates by the Midwest newspaper publisher E. W. Scripps. It was headed by Hugh Baillie (1890–1966) from 1935 to 1955. At the time of his retirement, UP had 2,900 clients in the United States, and 1, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Sanctions During The Russo-Ukrainian War
International sanctions have been imposed against Russia and Crimea during the Russo-Ukrainian War by a large number of countries, including the United States, Canada, the European Union, and international organisations following the Russian annexation of Crimea, which began in late February 2014. Belarus has also been sanctioned for its cooperation with and assistance to Russian armed forces. The sanctions were imposed against individuals, businesses, and officials from Russia and Ukraine. Russia responded with sanctions against several countries, including a total ban on food imports from Australia, Canada, Norway, Japan, the United States, the EU and the United Kingdom. The sanctions contributed to the value's reduction of the Russian ruble and worsened the economic impact of the 2022 Russian invasion of Ukraine. They also caused economic damage to the EU economy, with total losses estimated at €100 billion (). , Russia's finance minister announced that the sancti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russian National Card Payment System
The National Payment Card System (NSPK) is an operational and payment clearing house for processing bank card transactions within Russia and the operator of the Mir card payment system. It is the operational and payment clearing house of the and wholly owned by the Central Bank of Russia (CBR). On February 23, 2024, the United States Department of the Treasury imposed sanctions against the NSPK. This has no consequences on the territory of Russia, but may limit the use of Mir cards in other countries. History In March 2014, after the U.S. imposed sanctions against Russia in connection with the annexation of Crimea, the international payment systems Visa and MasterCard for the second time in history stopped servicing cards of several Russian banks in retail outlets and ATMs of the international network. The preparation of amendments to the Federal Law "On the National Payment System" was initiated in order to infrastructurally and informationally enclose the process of money ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
