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Visa and MasterCard announce suspension of operations in Russia

Visa and MasterCard authorities in the United States have announced that they are suspending their operations in Russia. They announced this on Saturday, local time. News AFP.

Various US business and technology companies have been suspending operations in Moscow since the morning of February 24. The company also said that MasterCard issued by Russian banks will no longer be part of their network.

Visa authorities have also said that cards issued in Russia will no longer work outside the country. However, both companies said that the cards issued abroad will no longer work in Russia.

Russia’s largest bank, Seberbank, and the country’s central bank have claimed that the suspension of Visa and MasterCard will not affect customers.

Russia’s central bank has said in a statement that the visa and MasterCard issued by Russian banks will allow them to operate normally on Russian soil until their expiration date.

The bank said the cards would be used to operate on Russian soil. Because, in Russia, all transactions take place under a national system. You don’t have to rely on foreign systems.

Russia’s central bank has warned that Russian nationals living abroad must choose alternative means of transacting.

MasterCard, meanwhile, said it would pay salaries and other benefits to about 200 workers in Russia.

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