Phase Two of Iran’s Shetab – Russia’s Mir Payment Network Linkage Implemented

From now on, Russian citizens can make purchases at retail terminals in Iran using the MirPay application.

The second phase of connecting Iran's "Shetab" and Russia's "Mir" payment networks was unveiled with the participation of senior officials from the central banks of both countries. With the implementation of this project, Russian tourists and business owners can now make purchases at merchant terminals in Iran.

Mohammad Reza Farzin, Governor of the Central Bank of Iran, emphasized during the launch ceremony on Tuesday, May 13, 2025: "This project is the result of joint efforts by specialized teams from the Central Banks of the Islamic Republic of Iran and Russia and is part of a broader package to develop banking cooperation between the two countries."

Farzin listed several joint initiatives between Tehran and Moscow to enhance banking relations, including:

• The linkage of Iran's SEPAM messaging system with Russia's SPFS
• The elimination of SWIFT in bilateral banking transactions
• The establishment of interbank correspondent relationships
• The creation of credit lines
• The signing of currency agreements

He added: "The Shetab-Mir network linkage is a continuation of efforts to expand banking ties between the two nations. Under this framework, citizens of both countries can access banking services during business and tourist travels without needing globally accepted bank cards."

The Central Bank Governor stressed that this model would be extended to BRICS member states and regional countries, with preparatory work already underway. He stated: "Establishing a secure platform for banking relations with BRICS and regional nations is a top priority for the Central Bank. Unfortunately, current banking infrastructures rely on insecure Western systems, and we are working to create a secure alternative."

Farzin described the Shetab-Mir linkage as the outcome of over three years of technical, political, and banking cooperation between Iran and Russia. "The card payment systems of both countries are now interconnected, eliminating the U.S. dollar from bilateral banking relations. Trade in national currencies has already begun," he noted.

He clarified: "The current banking cooperation is unrelated to ongoing negotiations. Iran's engagement with BRICS began over three years ago. We are currently seeking membership in the BRICS New Development Bank (NDB), with operationalization expected soon. Necessary talks with countries such as India, South Africa, and China have already commenced."

About the Shetab-Mir linkage Project

The card payment network linkage is being implemented in three phases:

Phase One (launched November 2024) enabled Iranian citizens to withdraw rubles from ATMs in Russia using their banking apps.

Phase Two (launched now) allows Russian citizens to make purchases at Iranian retail terminals via the MirPay app.

Phase Three (underway) will enable Iranian citizens to shop at Russian merchant terminals. A pilot version will launch in September, with full implementation expected by December 2025.

With Phase Two operational, Iranian merchants equipped with NFC-enabled terminals can now accept payments from Russian cardholders via the Android-based MirPay app. Transactions are processed through Iran’s Shaparak and Shetab networks before routing to Russia’s Mir system.

Iran’s payment network already supports NFC-based contactless payments for small purchases without requiring a PIN. This feature has now been extended to MirPay transactions.

MirPay is Russia’s mobile payment app, adapted for use with Iranian terminals via technical support from Iran’s Central Bank. Russian tourists and business travelers can make purchases at designated merchants using Android devices.

For low-value transactions, Russian cardholders can pay via MirPay without entering a PIN, while higher-value transactions require authentication. Priority has been given to equipping tourist destinations frequented by Russian visitors.

Reports indicate strong uptake of Phase One among Iranians in Russia, with hundreds of thousands of cash withdrawals and balance inquiries recorded at Russian ATMs.