VISA, MasterCard and PayPal, three popular online money transfer platforms, have suspended operations in Russia this time.
VISA CEO and Chairman Al Kelly said that Visa was compelled to make such a decision in the wake of Russia’s aggression in Ukraine.
And MasterCard authorities said, they have agreed with their government’s blockade and decided the Russians will no longer be able to use any of the cards they have issued.
Dan Schulman, President and CEO of PayPal, on the other hand, said that in the current situation, we are suspending PayPal service in Russia. However, the sudden closure of the financial services PayPal has allowed customers to withdraw money for a limited period of time.
Earlier, as part of sanctions imposed by the United States, the United Kingdom and Canada, the international payment system Swift also stopped trading with Russian financial institutions.
