How will it affect the market that Russian banks are moving to payments with the Chinese "UnionPay"?

Question

Leading Russian banks are considering using Chinese payment competitor UnionPay after Visa and Visa and Mastercard shut down operations and all major global audit companies have announced they will leave Russia because of the invasion. and in Ukraine, the ********** Press reported.

Answer 1

It is difficult to predict in the short term, but given the volume of money, there will probably be losses on the world market and they will not be small.