Russia has experienced an unprecedented failure in the payment system: bank cards, QR payments and transfers are completely unavailable. People are withdrawing cash en masse, forming queues at ATMs. The causes of the incident remain unknown.
The Russian payment system is paralysed: what happened?
Today in Russia, the operation of bank cards, QR payments and mobile banking applications is completely paralysed. According to Russian media reports, millions of citizens are unable to pay in stores, pay for services or make transfers. Banking apps are also down, and there are no official explanations for the failure.
Panic among the population and queues at ATMs
The news of the failure caused mass panic among Russians. People are storming ATMs to withdraw cash, fearing that access to money will be lost for a long time. In many cities, long queues have formed at ATMs, and some devices are already reporting a lack of cash.
No official comments
Despite the critical situation, Russian banks and regulators have not yet provided official explanations as to the causes of the large-scale failure. Experts do not rule out both technical problems and the possibility of a cyberattack, but there is no confirmation yet.
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