Major Payment Networks Halt All Russian Operations Over Ukraine Invasion
American Express, Visa, Mastercard, and PayPal suspend all services in Russia, blocking both inbound and outbound card transactions. The financial giants take this decisive step in response to the ongoing war in Ukraine.
Major payment processors including American Express, Visa, Mastercard, and PayPal completely suspend their operations in Russia. This coordinated financial blockade means globally issued cards no longer work at Russian merchants or ATMs, while cards issued by Russian banks lose all functionality outside of the country.
Visa and Mastercard announce their rapid exit from the Russian market over the weekend, stating that the unprovoked invasion of Ukraine forces them to act in line with their corporate values. Visa's CEO notes that while the company feels remorse about the impact on regular Russian citizens and local employees, the threat to peace leaves no other option.
American Express echoes this sentiment and expands the suspension to include all business operations in Belarus. The company prioritizes the safety of its colleagues in neighboring countries while fully halting its relationships with any Russian banks impacted by international government sanctions.