Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS


Visa Will Stop Operating In the Crimea
December 28, 2014 11:48

The international payment system Visa demanded Russian banks to stop service of cards in the Crimea. Visa explains the tough decision by the new package of sanctions imposed by the United States.

Russian banks have already begun to warn their customers. However, payment systems do not have the means guaranteeing obtaining of information on the exact location of the card transaction. “Kommersant” Publishing House got hold of the letter of Visa payment system. Referring to the US President’s decree as of December 19 prohibiting the US companies to directly or indirectly provide services to persons engaged in activities on the territory of Crimea, Visa has put forward a number of requirements to its customers, primarily banks. 

In particular, the customers of the payment system should immediately “stop to issue cards, render acquiring services or conduct any other operations in the Crimea with the use of the products and services by Visa”. As the official letter of the company says, the restrictions “should be kept until the sanctions against the Crimea are removed”. Responding to the request of “Kommersant”, the payment system confirmed that presently they cannot “render services and offer their products in the Crimea”.

“This means that we can no longer support the issuance and acceptance of bank cards in the Crimea, as well as their service at ATMs” - the official response of the American company says. Apparently, the imposed restrictions affect primarily Russian banks, because the main consumers of card services are Russian tourists. According to the Ministry of Tourism and Resorts of the Crimea, in 2014 the peninsula was visited by about 3.5 million Russians. According to the representative of the Russian bank out of the top 10, “Visa abandons the market with about 2 million potential customers”. At the same time the largest bank on the peninsula, Russian National Commercial Bank, issues cards of the Russian payment system PRO100. However, according to the source of “Kommersant” on the banking market, Russian banks can be disconnected from the service only if Visa recognizes that the transaction was conducted in the Crimea.
 



Author: Anna Dorozhkina

Tags: Crimea Sanctions    

Next Previous

You might also find interesting:

Russia Is One Of the Main Italian Wine Importers The Russians Spent 890 Billion Rubles On the Purchase Of New Cars No Russian Brands Were Included Into the Top 100 of the Worlds Most Expensive Brands Roman Abramovich Purchased Preferred Shares Of the American Propell Technologies Company Football: 3 Candidates for Spartak Moscow









Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Chelyabinsk  Galina Konovalova  Russian gaz  Myshkin  Russian Photographers  Russian women  Siberian Institute of Plant Physiology and Biochemistry  Russian tourism  Russian history  Russian Architecture  Fokino  Space Exploration  booking hotels in Russia  Russia economy  Rostov Region  Museums of Russia  Heavenly Hundred  Russian business  bus tickets Russia FIFA  Alexey Navalny  Tula  Festivals in Moscow  Moscow Museum of Modern Art  Russian Cinema  Aerospace Industry  Zaryadye  US-Russia   Greenhouse Effect  Samara Airport  Cancer  Russian football team  Russian Literature  St. Petersburg  Patriotic War 1812  buy Russian designers  Russian legislation  Peterhof  cooperation  Abraham Melnikov  reforms  Moscow  Russian holidays  Nina Genke-Meller  Republican Party of Russia  human rights in Russia  Mordovia  Maloyaroslavets  Exhibitions in Moscow  Moscow Metro  Mercedes-Benz Fashion Week Russia 


Travel Blogs
Top Traveling Sites