The sanctions imposed on the Russian Mir system may promote the Turkish payment system TROY (Türkiye'nin Ödeme Yöntemi) as an alternative for Russian tourists, which currently works as an internal payment system in Turkey. At least, an inter-bank meeting on this topic has already been scheduled.
According to Turkish media, Turkey continues to search for an alternative tool to replace the Mir payment system for Russian tourists, whose activity is slowed down due to sanctions. According to Turkish President Recep Tayyip Erdogan, at the moment Turkey has several alternatives and all these alternatives are currently being considered. This may also include the Turkish payment system.
The TROY system is currently Turkey's internal payment system, it provides credit card, debit card services and is used as an electronic banking method that provides movement money between banks and businesses. The system has been approved by the Central Bank of the Republic of Turkey and the Banking Supervision and Regulation Authority (BDDK), and has been in use since 2016.
According to Turkish media, the possibility of “transferring” tourists to this system will be included in the agenda of tomorrow's meeting of central banks Turkey and Russia in Kazan. Turkey is confident that the TROY system can be used in 10 countries where the Mir card is valid, reaching 100 million people using it.
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