Likewise India is setting up alternative cross border banking with Russia. Will be fascinating to see the end-result of this; how someone with a Russian bank account can pay for a meal in Shanghai or Mumbai.
Two weeks ago they'd just pull out their Visa/MasterCard, and since the restaurant and the Russian's bank are both in the Visa network, it gets taken care of that way. Visa and MasterCard are blocking service to sanctioned Russian banks, which explains why Russians are busy going to the ATM to pull out cash.
China has their own network called UnionPay, so those banks have probably been calling them to join this last week.
I can imagine that Russians will also install AliPay or WeChat.
VISA and MC has nothing to do with lines to the ATM for cash. We have MIR system that works without any problem within Russia and works with Apple\Google\Whatever Pay too.
People just afraid their money can be taken away.
>>> how someone with a Russian bank account can pay for a meal in Shanghai or Mumbai