Not SWIFT

[D5CAV]

My experience in cross-border transactions is mostly in the 7 and 8 figure range. Transactions above 9 figures were above my pay grade and transactions below 7 figures just weren't worth the squeeze.

Transactions in the 4 and 5 figure range are what we referred to as "retail": https://www.zerohedge.com/markets/yuan- ... -swift-cut

I don't do "retail", so my experience here is very limited, even from personal use.

Even though I have some cards with MC, Visa and even Union Pay (for China), I rarely use them. Yes, I am a dinosaur. I use cash. My favorite colors are green (USD) and pink (RMB). Pulling out some green rarely gets a reaction in US, but I get funny looks when I pull out a pile of pink in China.

I never see Union Pay outside of China and Hong Kong. It looks like that will change soon.

As The Telegraph reports, the move comes days after it emerged that a string of Russian lenders including Sberbank and Alfa Bank were planning to use China’s UnionPay system to provide customers’ bank cards after Visa and Mastercard boycotted Russia in response to its invasion of Ukraine.

UnionPay is the dominant payments handler in China but has a small market share outside of the world’s second-largest economy.

Too bad, so sad for Visa and MC. Actions have consequences and stupid is as stupid does.