Visa, Mastercard suspend operations in Russia over Ukraine invasion

Published by
Reuters

(Reuters) – U.S. payments firms Visa Inc and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine and that they would work with their clients and partners to cease all transactions in the country. Within days, all transactions initiated with Visa cards issued within Russia will no longer work outside of the country and any Visa cards issued outside of the Russia will no longer work within the country, the company said. “We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,…

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