Daily Tech News, Interviews, Reviews and Updates

Visa and Mastercard halt services in Russia amidst Ukraine crisis

Visa Inc. and Mastercard Inc. take actions following other firms.

Visa and Mastercard halt services in Russia. Following Russia’s unprovoked war against Ukraine, many firms are withdrawing from Russia. For over a week now, the war between Russia and Ukraine is under way. Russia is shelling Ukraine and disturbing its intergrity. Moreover, disturbing the peace across the globe.

As a result, many countries and firms are extending support to Ukraine and admonishing Russia. Countries in West are imposing sanctions on Russia and are providing military aid to Ukraine. Russia holds that the sanctions coming from the West are “akin” to declaration of war against Russia.

Multiple firms and corporations are withdrawing from Russia as well. For instance, different automobile firms have withdrawn from Russia. Thus, amidst the Ukraine crisis, Visa and Mastercard move out from Russia.

On a call with Zelenskyy, the Ukrainian president, the president of the US appreciates the move.

Effects as Visa and Mastercard halt services in Russia:

Al Kelly, chief executive officer of Visa says that Visa Inc. is compelled to withdraw services from Russia following its attempts to invade Ukraine.

Moreover, uncertainity already prevails in Russia as inflation is spiraling round the corner and there is sharp decline in imported goods.

Now, it is not possible to make transactions in the world with the cards issued in Russia. Additionally, cards from outside of Russia shall not be functional within the territory of Russia.

Readers like you help support The Tech Outlook. When you make a purchase using links on our site, we may earn an affiliate commission. We cannot guarantee the Product information shown is 100% accurate and we advise you to check the product listing on the original manufacturer website. Thetechoutlook is not responsible for price changes carried out by retailers. The discounted price or deal mentioned in this item was available at the time of writing and may be subject to time restrictions and/or limited unit availability. Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates Read More
You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More