Russian Banking Market Sees Drop in Debit and Credit Card Issuance

The Russian banking market saw a significant drop in the issuance of debit and credit cards in Q2 2026, according to data from the Central Bank. The number of Visa and Mastercard cards decreased by a quarter during this period.

At the same time, the regulator reported that inactive cards are being withdrawn from circulation, while for the remaining Visa and Mastercard cards, the intensity of payments and transfers is increasing.

The number of new cards issued by the Russian payment system 'Mir' is growing, noted the Bank of Russia. This indicates a shift towards alternative payment methods such as SBP (single-purpose bank card) and virtual cards using smartphones.