Tuesday, May 17, 2022
  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
No Result
View All Result
Home Fintech

Visa And Mastercard Suspend Operations In Russia

Russian cards will no longer work in other countries.

by Ikmal Rozlan
March 6, 2022
visa mastercard credit debit cards

[Photo: Nick Youngson]

61
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Both Visa and Mastercard have announced the suspension of all operations in Russia in response to the ongoing conflict in Ukraine. Visa said that it will “cease all Visa transactions over the coming days” while Mastercard is similarly suspending its network services in Russia. The country makes up about 4% of each companies’ revenue.

Both Visa and Mastercard say that with the suspension, cards issued overseas will no longer work at Russian merchants or ATMs, while Russian-issued cards will also not be accepted outside the country. However, Visa told Bloomberg that cards issued within the country can still make transactions inside Russia itself, but they will instead be processed by Russia’s National Payment Card System (NSPK).

russia central bank moscow
Bank of Russia headquarters in Moscow [Photo: Ludvig14/Wikimedia]

In response, the Russian central bank said that Visa and Mastercard products issued by Russian banks will continue to work until they expire. The move comes days after both companies blocked certain financial institutions in the country from their network to put further pressure on the financial system.

ADVERTISEMENT

Sanctions have hit Russia hard, with the country’s banking system now cut off from SWIFT and its oil sector having a hard time finding buyers. Even Malaysia seems to be avoiding being associated with Russia, as the transport ministry recently prevented a sanctioned Russian oil tanker from docking at local ports.

(Source: Visa, Mastercard, Bloomberg)

Tags: MastercardRussiaUkraineVisa
Updated 11:16 am, Mon, 7 March 22
Back to top
Share24Tweet15SendShare

ADVERTISEMENT

RELATED ARTICLES

asean flags
Coronavirus

ASEAN Countries To Mutually Recognise Vaccine Certificates

by Ikmal Rozlan
May 16, 2022

The Association of Southeast Asian Nations (ASEAN), made up of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines. Singapore, Thailand, and...

Read more
NVIDIA To Quietly Introduce Pascal-Based GeForce GT 1010 Into Market
Rumours & Leaks

New NVIDIA Job Listing Hints At Possible Development Of Next-Gen Nintendo Switch

by John Law
May 16, 2022

NVIDIA recently opened up a vacancy in its company for a technical engineer specialising in game console developer tools. While...

Read more
elon musk
Social Media

Elon Musk Gets Told Off By Twitter Legal Team For Breaking NDA

by John Law
May 15, 2022

Remember how just a couple of days ago, Elon Musk, the CEO of Tesla and soon-to-be owner of Twitter, put...

Read more
Selangkah Wallet launch
News

Selangor Residents To Get Free Health Screening Via Selangkah

by Ikmal Rozlan
May 14, 2022

The Selangor state government is introducing a free health screening programme called Saring Selangor through the Selangkah app that will...

Read more
Load More
No Result
View All Result

TRENDING TODAY

  1. 1
    Fintech

    Next Batch Of Enhanced Touch N Go Card Will Arrive In June

  2. 2
    Smartwatches

    Huawei Watch D Hands On: On The Go Blood Pressure Monitoring

  3. 3
    News

    Selangor Residents To Get Free Health Screening Via Selangkah

  4. 4
    Social Media

    Elon Musk Gets Told Off By Twitter Legal Team For Breaking NDA

  5. 5
    Mobile Phones

    Huawei Mate Xs 2 Foldable Phone To Launch In Malaysia On 19 May

Lowyat.NET

Consumer Tech News & Reviews Malaysia

NETWORK

  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks

ABOUT

  • Advertise
  • Careers
  • Privacy Statement
  • Contact Us
  • Editorial Policy
  • Terms & Conditions

©2022 LOWYAT MEDIA, LLC. ALL RIGHTS RESERVED.

No Result
View All Result
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables

©2022 LOWYAT MEDIA, LLC. ALL RIGHTS RESERVED.

We use cookies to improve your experience. Learn More.