প্রকাশ: 06/03/2022
Card payment giants Visa and Mastercard announced
Saturday they will suspend operations in Russia, the latest major US firms
to join the business freeze-out of Moscow over its invasion
of Ukraine.
"Noting the unprecedented nature of the current
conflict and the uncertain economic environment," Mastercard said it
had "decided to suspend our network services in Russia."
Visa, for its part, said that "effective
immediately" it would "work with its clients and partners within
Russia to cease all Visa transactions over the coming days."
Major corporations across a range of industries have halted
business in Russia since its invasion began 10 days ago, including
everything from US-based tech firms such as Intel and Airbnb to French luxury
giants LVMH, Hermes and Chanel.
Visa and Mastercard had already announced that they were
complying with US and international sanctions imposed on Russia in the
wake of its attack.
"Our colleagues, our customers and our partners have
been affected in ways that most of us could not imagine," Mastercard
said, stating that its cards issued by Russian banks would no longer be
supported by the company's network.
Visa similarly said that cards issued in Russia would no
longer work outside the country.
Both companies said cards issued abroad would no longer work
in Russia.
"We are compelled to act following Russia's unprovoked
invasion of Ukraine, and the unacceptable events that we have
witnessed," Visa CEO Al Kelly said.
Russia's major banks, including its largest lender Sberbank
and the Russia Central Bank, downplayed the effects that the cards'
suspensions would have on their clients.
"All Visa and Mastercard bank cards issued by Russian
banks will continue to operate normally on Russian territory until their
expiration date," the Russia Central Bank said.
Sberbank said in a statement on its official Telegram
account that the cards "can be used for operations in the Russian
territory - to withdraw cash, make transfers using the card number,
and for payment at offline as well as at online Russian stores."
The cards would continue to work on Russian territory, it
said, because all payments in Russia are made through a national system
and do not depend on foreign systems.
However, the central bank warned that Russians traveling
abroad should carry alternate means of payment.
Mastercard added that it would continue to provide pay and
benefits to its nearly 200 employees in Russia.
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