Visa and Mastercard Halt All Russian Payment Services Over Ukraine Invasion
Visa, Mastercard, and PayPal suspend all operations in Russia in response to the ongoing invasion of Ukraine. The blockades prevent Russian cards from working abroad and foreign cards from functioning inside the country.
Visa, Mastercard, and PayPal officially suspend all payment operations in Russia in response to the country's ongoing invasion of Ukraine. The payment processors announce the shutdown on Saturday, joining a growing list of Western companies cutting ties with the Russian financial system due to public pressure and geopolitical events.
Visa states that it takes a few days to fully discontinue services, after which cards issued in Russia no longer work outside the country and foreign cards no longer function within Russian borders. Mastercard mirrors this approach by blocking network services, ending support for cards issued by Russian banks, and preventing foreign-issued cards from being used at Russian merchants or ATMs.
PayPal also confirms a similar shutdown following a public letter from its CEO to Ukrainian officials, noting that existing account balances will be dispersed in accordance with applicable laws. While traditional financial firms rapidly sever Russian ties, cryptocurrency exchanges largely resist widespread calls from Ukrainian officials to unilaterally block all Russian residents.