Moscow and Tehran Complete Integration of 'Mir' and 'Shetab' Payment Systems

Moscow and Tehran have completed the integration of the 'Mir' and 'Shetab' payment systems. According to Mohammad Fardzin, the head of Iran's Central Bank, the Iranian system could go live in Russia by the end of August.

The official stated that in the first phase, which will begin on August 22, Iranian 'Shetab' bank cards will be usable at all ATMs in Russia that support Amber smart cards, allowing Iranian citizens to withdraw cash in rubles using their cards.

The second phase will enable payments by Russian citizens in Iran using their cards, Fardzin explained. He noted that in the third phase, Iranians will be able to make purchases in Russian stores using the 'Shetab' card through regular banking terminals.

It is important to note that Russia and Iran have signed an agreement on the liquidity of national currencies to facilitate bilateral trade.