Visa And Mastercard Withdraw From Russia And Stop Transactions

International payment systems Visa and Mastercard have announced that they are completely stopping work in Russia and will stop all card transactions in the coming days.

This is stated in the relevant messages of the companies, Ukrainian News Agency reports.

According to Visa, the decision is already in place and it will take the company several days to stop all transactions.

Upon completion, all transactions initiated with Visa cards issued in Russia will no longer work outside the country, and any Visa cards issued by banks outside the Russian Federation will no longer work in the territory of the Russian Federation.

Mastercard also announced that cards issued by Russian banks will no longer be supported by the Mastercard network.

Any cards issued outside the country will not work at Russian merchants or ATMs.

As Ukrainian News Agency earlier reported, the National Bank previously applied to the international payment systems Visa and Mastercard with a demand to stop servicing payment cards issued by resident banks of the Russian Federation.