Visa and Mastercard cease their operations in Russia after the invasion of Ukraine

Mastercard is suspending its operations and transactions in Russia, according to a statement issued on Saturday, due to the Russian invasion of Ukraine.

A Mastercard spokesperson stressed that “given the unprecedented nature of the current conflict and the uncertain economic environment,” it was decided “To suspend the services of our network in Russia». Mastercard, which has been active in Russia for more than 25 years, said “cards issued by Russian banks will no longer be compatible with their network.”

On the other hand, Visa “will suspend all transactions” with the cards it issues “in the coming days,” according to press releases from both companies.

It is recalled that at the beginning of the month the American company Mastercard Inc. had excluded Russian financial institutions from its network due to the invasion of Ukraine.

source: iefi merida