Cuba Registers about 67,000 Transactions with Russian MIR Cards

AREQUIPA, Peru – A total of 67,000 transactions with MIR magnetic cards at Point of Sale (POS) terminals, primarily in the tourism and hotel sector, were recorded in Cuba by the end of the first week of May 2024.

According to Fincimex Deputy Manager Alfredo Martínez González, the use of MIR cards as a payment method through the national network of ATMs and, progressively, POS terminals, represented a technological challenge and a coordinated effort between national and international entities.

According to the official media outlet Cubadebate, the administrator explained that “initially, a survey was conducted to identify priority locations where the Ministry of Tourism had planned for the arrival of Russian visitors in specific areas and entities in Varadero, Camagüey, and Havana.”

Martínez González mentioned that the process began for the entire country and has already been implemented in the tourism, commercial, and any service-providing entity through the use of POS terminals.

The start of MIR card operations in Cuba at the end of December 2023 has contributed to the increase in Russian tourism — the third largest in terms of arrivals to the island — due to the ease it provides in paying for services and products.

Currently, eight countries, including Cuba, facilitate the use of MIR cards, issued by the Russian National Card Payment System (NSPK, by its Russian acronym).

The operation of MIR cards on the Island is part of a “Russification” process of the economy, initially aimed at offering Russian tourists more options for paying for services and also serving as a payment platform for investors.

The launch of the process had been delayed several times. In 2022, the authorities assured its operation before the end of the year, but that was not achieved.

The MIR card is the Russian equivalent of the international financial service multinationals Visa and MasterCard.

After its implementation on the Island almost six months ago, Cuban authorities clarified that the use of Russian cards is not intended for Cuban citizens.

The information was revealed in the official newspaper Escambray following statements made by Arelys Alfonso Valero, head of the Electronic Banking Department at the Credit and Commerce Bank Directorate in the province.

“The Russian MIR cards are international cards issued by the Central Bank of Russia, and their use in the country will have no implications for Cubans, but for Russian citizens, for tourists from that nation who come to Cuba,” the official clarified.

“The Russian cards will also not be issued to Cuban citizens. Here in Cuba we use those issued by the three national banks: Metropolitano for people living in Havana, BANDEC, and BPA for paying salaries, pensions, and for self-employed workers, among other sectors,” she added.

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Fuente Cubanet.org