Companies around the world have been shutting down and restricting services in Russia due to the invasion of Ukraine. Well known payment providers, Visa, Mastercard and PayPal are the latest to suspend services in Russia.
Visa say that they are working with clients and partners within Russia to cease all Visa transactions over the coming days.
We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed. We regret the impact this will have on our valued colleagues, and on the clients, partners, merchants and cardholders we serve in Russia. This war and the ongoing threat to peace and stability demand we respond in line with our values.
– Al Kelly, chairman and chief executive officer of Visa Inc
Mastercard have released a statement explaining that they have also suspended their services in Russia.
We’ve received perspectives from our employees, in addition to people across the industry, consumers and our shareholders. We have also considered what would be most important to support the continued availability of services, if possible, to impacted people in the region.
It’s with all of this in mind – and noting the unprecedented nature of the current conflict and the uncertain economic environment – we have decided to suspend our network services in Russia.
– Mastercard
In a letter to Ukrainian Vice Prime Minister, PayPal said that they were standing with the people of Ukraine and suspending services in Russia.
PayPal supports the Ukrainian people and stands with the international community in condemning Russia’s violent military aggression in Ukraine, Under the current circumstances, we are suspending PayPal services in Russia. We are also doing all that we can to support our staff in the region during this deeply difficult time.
– Dan Schulman, President & CEO, PayPal
