Russia's Mir payment system connected to Iran's Shetab - media

MOSCOW. Nov 11 (Interfax) - Russia's Mir payment system was officially connected to Iran's Shetab at a ceremony in Tehran, attended by Iranian Central Bank Governor Mohammad Reza Farzin and managers of several Iranian banks, the Tasnim news agency said.

The first phase of the integration process will allow holders of Shetab national payment system cards to use them at Russian ATMs.

Russian tourists will be able to start using their Mir cards in Iran at the second phase.

Upon completion of the third phase, Iranian citizens will be able to use their Shetab cards to pay for goods and services in Russia.

Plans to connect the Russian and Iranian payment systems were announced by Russian Deputy Prime Minister Alexander Novak in May 2022. The countries also discussed the prospect of connecting their financial messaging systems.