Stock Groups

Apple closes Russian Mir card loophole for Apple Pay, says Sberbank -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: A logo for Apple hangs over the entrance of the Apple store at 5th Avenue in Manhattan, New York City. This was July 21st 2015. REUTERS/Mike Segar

(Reuters) – U.S. tech giant Apple suspended Apple Pay for Russia’s Mircard payment system. Russia’s biggest lender and payments system announced Friday that it had closed a loophole which allowed Russians access to the service.

Apple Inc (NASDAQ) has restricted Apple Pay’s use in Russia. The service was launched in 2016 and began in Russia on March 1. This followed Russia’s February 24th deployment of tens to thousands of troops in Ukraine.

However, Russia’s Mir system was connected to Apple Pay up until Thursday according to Russia’s National Card Payment System.

Apple informed NSPK that they are suspending Mir card support in Apple Pay. The service will be unavailable for new Mir card additions starting on March 24. Apple will end all card transactions in the following days,” NSPK announced Friday.

Sberbank Russia, Russia’s largest lender, stated that Apple had informed them of their decision to restrict further access to Apple Pay. Reuters did not reach out to Sberbank for comment.

According to the bank, “Further usage of Mir Cards in Apple Pay won’t be possible.”

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]