Impact of Russian Sanctions on the Payments Ecosystem


May 3, 2022 1:00 pm ET

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The United States, the European Commission, Australia, Japan, and Canada issued a series of financial sanctions against Russia in response to aggression in Ukraine. These actions immediately impact Russia and will affect the long-term implications of both domestic and international payments for consumers, businesses, and government interactions.

This session will provide a view of how these sanctions will affect payments from various perspectives and draws from Mercator’s expertise in U.S. and international markets. It provides insight into how it will affect consumer credit and scoring, domestic debit transactions, corporate payments and settlements, and the implications of future payment technologies developments.

Webinar participants will learn how Russia has positioned itself ahead of the sanctions, with the development of Mir, an action from the Central Bank of Russia, and SPFS, a gross settlement system designed as an alternative to SWIFT. These systems formed after sanctions resulting from Russian actions in Crimea in 2014. They will also gain a perspective on how the activities will isolate Russia and potentially disrupt the long-term objective of inter-active, global payment systems.

Amy Dunckelmann, Vice President of Research Operations, will lead the roundtable, joined by:

  • Brian Riley, Director, Credit Advisory Service
  • Steven Murphy, Director, Commercial and Enterprise Payments Advisory Service
  • Sarah Grotta, Director, Debit and Alternative Products Advisory Service
  • Tim Sloane, Vice President, Payment Innovation
  • Don Apgar, Director, Merchant Services Advisory Service

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