Visa and Mastercard have ceased operations in Russia

ByShehryar Makhdoom
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Visa and Mastercard have pulled out of Russia. U.S. payments companies Visa and Mastercard announced on Saturday that they were suspending operations in Russia due to Russian military intervention in Ukraine and would engage with clients and partners to ensure that no transactions took place in the country.

Ukrainian Deputy Prime Minister Mykhailo Fedorov tweeted a letter early Saturday from PayPal CEO Dan Schulman officially announcing: “Under the current circumstances, we are suspending PayPal services in Russia.”
He added that PayPal would continue to support its staff in the region and would focus on “enabling our customers and our global employee community to support” humanitarian efforts in Ukraine.

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