Pause operations: company temporarily curtailing operations while keeping return options open
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Mastercard is an American multinational financial services corporation. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the "Mastercard" brand debit, credit and prepaid cards to make purchases.
Pause operations: company temporarily curtailing operations while keeping return options open
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Global 500Visa and MasterCard cards may go out of circulation in Russia in 2025, according to the CEO of the National Payment Card System. The State Duma has promised Russians the return of Visa and Mastercard.
Cards issued by Russian banks will no longer be supported by the Mastercard network regardless of where they’re used - inside or outside of Russia. And, any Mastercard issued outside of the country will not work at Russian merchants or ATMs. All domestic transactions in Russia are processed by the central bank and Mastercard cannot block them. Also, the company has lost $30 million in 2022 due to the suspension of activities in Russia, as reported in its financial statements for 2022. Revenue dropped to 0 in 2023. From January 1, 2025, security certificates for some Visa and Mastercard cards in the Russian Federation will no longer be valid.