According to sources, anyone with a card issued in Russia will still be able to pay for products and services using Mastercard or Visa cards, but neither financial institution will process the transactions; instead, Russia’s National Payment Card System (NSPK) will be responsible.
Visa and Mastercard made their announcements shortly after Ukrainian President Volodymyr Zelensky met with US lawmakers and requested that both companies suspend operations in Russia. “I am pleased to learn that Mastercard and Visa will immediately suspend all operations in Russia,” Congressman Brad Sherman (D-CA) tweeted following his meeting with Zelensky.
