Mastercard blocked access to payment system for several Russian banks

Tatyana Aksyutina

Mastercard has blocked access to the payment system for several Russian banks. They are not named, but earlier, the company stated that the cards of VTB, Otkrytie, Sovcombank, Promsvyazbank, and Novikombank would not work abroad.

"As a result of the sanctions orders, we have blocked several financial institutions in the Mastercard payment network," Mastercard CEO Michael Miebach said in a statement. According to him, the company will continue to cooperate with regulatory authorities not to violate its obligations.

The suspension of the bank's participation in the payment system means that it and its affiliates' Visa and Mastercard cards will stop working abroad and in foreign online stores. At the same time, they will continue to work in Russia since the national payment card system processes all card transactions within the country.

In addition, operations using Apple Pay, Google Pay will not be available. All payments for purchases and services, including in online stores, are available with a bank card - contact or contactless.

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