Visa and Mastercard announce suspension of operations for Russian citizens
Visa and Mastercard payment systems have announced that they will completely stop working in Russia and will suspend all card transactions in the coming days
This was reported by Economichna Pravda with reference to the company's press services.
Visa said the decision had already taken effect. The company will need a few days to stop all transactions. Upon completion, all transactions initiated with Visa cards issued in Russia will no longer work outside the country, and any Visa cards issued by banks outside the Russian Federation will no longer work in the Russian Federation.
"We are forced to act after Russia's unprovoked invasion of Ukraine and the unacceptable events we have witnessed," said Al Kelly, chairman, and CEO of Visa Inc. "We regret the impact this decision will have on our colleagues, clients, partners, and cardholders we serve in Russia. This war and the threat to peace demand we respond in line with our values."
Mastercard also stated that cards issued by Russian banks will no longer be supported by the Mastercard network. Any cards issued outside of the country will not work at Russian merchants or ATMs.
