Pause operations: company temporarily curtailing operations while keeping return options open
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Visa is an American multinational financial services corporation.It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards.
Pause operations: company temporarily curtailing operations while keeping return options open
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Global 500In Russia, Visa cards are serviced in almost 166,000 retail outlets and more than 36,000 ATMs. Visa 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. The cards of the leading international payment systems Visa and Mastercard, issued by Russian banks before the war, remaining with Russians may turn into useless pieces of plastic. The Central Bank, according to the director of the national payment system department Alla Bakina, has proposed limiting the validity period of cards, payment systems that are not included in its register. Among them are Visa and Mastercard.
Transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued by financial institutions outside of Russia will no longer work within the Russian Federation. The Visa payment system, which had previously left the Russian market, submitted an application to Rospatent for registration of two new trademarks. From January 1, 2025, security certificates for some Visa and Mastercard cards in the Russian Federation will no longer be valid.