HomeTech NewsMastercard and Visa to suspend operations in Russia

Mastercard and Visa to suspend operations in Russia

Mastercard and Visa joined the companies that suspended their activities in Russia. This is a result of events unfolding in Ukraine.

Mastercard’s press release included the following statements:

Given the unprecedented nature of the current conflict and the uncertain economic environment, we have made the decision to suspend our network services in Russia. This decision stems from our recent actions to block several financial institutions on the Mastercard payment network, as required by regulators around the world.

After that, transactions of cards issued by Russian banks will no longer be supported by the Mastercard network. Also, any Mastercard issued outside the country will not work in Russian stores or ATMs.

Same things came from Visa in the press release

Visa is currently working with customers and partners in Russia to stop all transactions. After that, all transactions with Visa cards issued in Russia will not work outside the country, and Visa cards issued by financial institutions outside Russia will no longer work in the Russian Federation.

Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.

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