Visa and Mastercard have announced they will suspend all operations in Russia in protest at its invasion of Ukraine. Cards issued by Russian banks will no longer be supported by their networks, both payment providers said on Saturday.
Both firms have also said that cards issued abroad will no longer work at businesses or ATMs in Russia.
“We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed. We regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia. This war and the ongoing threat to peace and stability demand we respond in line with our values” Al Kelly, Chairman and CEO of Visa, said.
Also read: Mastercard and Kashat partner to expand financial services in Egypt
Mastercard said that in a statement that due to the unprecedented nature of the current conflict and the uncertain economic environment, they have decided to suspend their network services in Russia.
Also read: Egypt hosts Visa Everywhere Initiative for the first time with CBE’s support
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
