Visa, Mastercard suspend operations in Russia

Tech

Published: 2022-03-06 09:08

Last Updated: 2022-12-02 15:14


Visa, Mastercard suspend operations in Russia
Visa, Mastercard suspend operations in Russia

Saturday, US payments firms Visa Inc (V.N) and Mastercard Inc announced they were suspending operations in Russia over its military intervention in Ukraine, adding that they will work with clients and partners to cease all transactions there.

During the next few days, all transactions initiated with Visa cards issued in Russia will no longer work outside of the country. Also, any Visa cards issued outside of Russia will no longer work within the country, according to the company.

Biden highlighted efforts by private companies, such as payment giants Visa and MasterCard, to freeze out Moscow by suspending operations.