Hamidreza Norouzi, Director of Payment Systems Oversight at the Central Bank of Iran, stated that the first phase of the Shetab-Mir card network integration was launched in September 2024.
This allowed Iranian citizens and tourists to withdraw cash and check balances at Russian ATMs using the “Kahroba” application. To date, over 2 million transactions worth more than 5 billion rubles have been processed through this system.
In a televised address, Norouzi also announced the launch of the second phase, enabling Russian “Mir” cardholders to make retail purchases in Iran using the “MirPay” app. Currently, over 163,000 point-of-sale terminals in Iran accept MirPay, with expansion underway in key tourist destinations.
He further noted that the third phase will soon be implemented, allowing Iranian cardholders to make retail and commercial purchases in Russia. These transactions will be settled using the “Mir-Business” exchange rate, updated daily, facilitating cross-border financial settlements between the two banking networks.
The integration aims to boost tourism, trade, and financial independence amid ongoing Western sanctions on both nations.
