Visa and Mastercard suspend their services in Russia - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/03\/06\/visa-and-mastercard-suspend-their-services-in-russia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Visa and Mastercard suspend their services in Russia - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Visa and Mastercard are suspending operations in Russia in another major blow to the country\u2019s financial system, according to a report from the Associated Press. 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\n

Visa and Mastercard are suspending operations in Russia in another major blow to the country\u2019s financial system, according to a report from the Associated Press<\/em><\/a>. <\/p>\n
In an announcement on Visa\u2019s website<\/a>, the company says it\u2019s working with partners in Russia to \u201ccease all transactions over the coming days.\u201d A separate press release<\/a> from Mastercard contains a similar message, noting that it\u2019s suspending services in Russia and that its decision wasn\u2019t taken \u201clightly.\u201d Both companies explain that any transactions made with Mastercard or Visa cards issued by banks in Russia won\u2019t work outside of Russia, while any cards issued by banks outside of the country won\u2019t work at Russian merchants or ATMs.<\/p>\n
\n\u201cWe regret the impact this will have\u201d<\/q><\/aside>\n<\/div>\n\u201cWe regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia,\u201d Visa CEO Al Kelly states. \u201cThis war and the ongoing threat to peace and stability demand we respond in line with our values.\u201d<\/p>\nAs noted by Bloomberg<\/em><\/a>, anyone with a card issued in Russia will still be able to pay for products and services with Mastercard and Visa cards, however, neither financial company will process the transactions \u2014 Russia\u2019s National Payment Card System (NSPK) will have to handle them instead.<\/p>\n
Visa and Mastercard\u2019s announcement comes shortly after Ukrainian President Volodymyr Zelensky met with US lawmakers and asked that they halt both companies\u2019 operations in Russia. \u201cPleased to hear that Mastercard and Visa will be suspending all their operations in Russia effective immediately,\u201d Congressman Brad Sherman (D-CA) said on Twitter<\/a> following the meeting with Zelensky.<\/p>\n
Earlier this week, Visa and Mastercard barred select Russian banks<\/a> from their networks in response to financial sanctions the US imposed<\/a> on the country. \u201cThis decision flows from our recent action to block multiple financial institutions from the Mastercard payment network, as required by regulators globally,\u201d Mastercard says.<\/p>\n
The US and European Union blocked some Russian banks<\/a> from the key global financial system SWIFT following Russia\u2019s invasion of Ukraine last month. Sanctions have also ruled out Apple Pay and Google Pay<\/a> for some Russian consumers, with PayPal ceasing its operations<\/a> in the country early this morning. A number of other major companies, including Samsung<\/a>, Microsoft<\/a>, Apple<\/a>, and Google<\/a> have all stopped doing business with Russia.<\/p>\n<\/div>\n

<\/br><\/code><\/p>\n
Source: https:\/\/www.theverge.com\/2022\/3\/5\/22963433\/visa-mastercard-suspend-services-russia-ukraine<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Source: Visa and Mastercard are suspending operations in Russia in another major blow to the country\u2019s financial system, according to a report from the Associated Press. In an announcement on Visa\u2019s website, the company says it\u2019s working with partners in Russia to \u201ccease all transactions over the coming days.\u201d A separate press release from Mastercard […]<\/p>\n","protected":false},"author":1,"featured_media":883,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[15,8],"tags":[16],"class_list":["post-882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-policy","category-technology","tag-policy"],"yoast_head":"\nVisa and Mastercard suspend their services in Russia - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/03\/06\/visa-and-mastercard-suspend-their-services-in-russia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Visa and Mastercard suspend their services in Russia - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Visa and Mastercard are suspending operations in Russia in another major blow to the country\u2019s financial system, according to a report from the Associated Press. 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In an announcement on Visa\u2019s website, the company says it\u2019s working with partners in Russia to \u201ccease all transactions over the coming days.\u201d A separate press release from Mastercard […]","og_url":"https:\/\/scienceandnerds.com\/2022\/03\/06\/visa-and-mastercard-suspend-their-services-in-russia\/","og_site_name":"Science and Nerds","article_published_time":"2022-03-06T14:59:03+00:00","article_modified_time":"2022-03-06T14:59:05+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2022\/03\/visa-and-mastercard-suspend-their-services-in-russia_6224cc384ed41.jpeg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/scienceandnerds.com\/2022\/03\/06\/visa-and-mastercard-suspend-their-services-in-russia\/","url":"https:\/\/scienceandnerds.com\/2022\/03\/06\/visa-and-mastercard-suspend-their-services-in-russia\/","name":"Visa and Mastercard suspend their services in Russia - 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