Network International has enabled UAE merchants to accept Russia’s MIR cards as part of an exclusive agreement between the two companies.
Thousands of shoppers and visitors from Russia and countries belonging to the Commonwealth of Independent States (CIS) travelling to the UAE will now be able to feel at home while making payments, by seamlessly using their MIR-branded cards for purchases at retailers using Network terminals.
To mark the announcement, a launch ceremony was held earlier this week at Dubai Duty Free in Concourse B of Dubai International Airport in the presence of Network International, MIR and Dubai Duty Free officials.
Ahmed bin Tarraf, regional president-UAE, Network International, said this initiative is an important milestone in Network’s continued efforts to deliver a seamless payment experience to UAE merchants and their consumers.
“Russia is a key market for several merchants in the UAE, especially in the hospitality and luxury retail sectors, and we are delighted to play our part in making Russian shoppers feel at ease when using their MIR cards,” he said.
Ramesh Cidambi, COO of Dubai Duty Free, said Russia is one of the top five countries by destination in terms of Dubai Duty Free shoppers and this partnership represents a significant step in “our ongoing commitment” to provide shopping convenience to our customers by making the payment process as easy and secure as possible.
“We are delighted to be able to give our Russian customers the option to use their MIR cards to pay for their purchase in Dubai Duty Free,” he said.
Vladimir Komlev, chief executive officer of Mir Payment System, said: “One of the key areas of MIR’s international development is to ensure its acceptance in countries popular among Russian tourists. Dubai and the UAE’s other emirates are among the top five winter destinations* for Russians. Our cooperation with Network will allow them to use their MIR cards this very season for purchases at popular retailers using Network terminals, including Dubai Duty Free.”
The UAE is one of the most popular vacation destinations for Russian tourists, with the annual volume of travellers reaching nearly one million per year prior to COVID-19. The agreement will enable Network’s UAE merchants to increase conversions, expand their client base and better serve their CIS and Russian customers.
The bank recorded a significant turnaround in the UAE with a healthy operating profit of $242 million
Over the past year, Multiply Group has expanded its portfolio through a range of acquisitions, and strategic investments