Payment systems Visa and Mastercard announced the suspension of their operations in the Russian Federation amid the war in Ukraine.
“We are compelled to act after Russia’s unprovoked invasion of Ukraine and the unacceptable events we have witnessed. […] This war and the ongoing threats to peace and stability require a response in line with our values,” said Visa CEO Alfred F. Kelly.
Visa cards issued outside the country will not work in the Russian Federation. Cards issued in Russia will be unusable abroad. The changes will take effect “in the coming days”.
“For more than a week, the world has been watching the shocking and destructive events sparked by Russia’s invasion of Ukraine. Our colleagues, our customers and our partners have suffered in ways most of us could not imagine,” Mastercard said in a statement.
Cards issued by Russian banks will not be supported by the Mastercard network. Cards issued outside the Russian Federation will not work in shops and ATMs in the country.
As reported, PayPal suspended operations in the Russian Federation. The British fintech startup Revolut has halted support for transfers to Russia and Belarus.
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