A view of multi colored Russian babushka nesting dolls. getty Dozens of companies have announced plans to either pause operations or cease operations in Russia on account of its war in Ukraine, which ...
Tag: UnionPay
Will Russia’s Turn to China’s UnionPay Actually Make a Difference?
With western sanctions continuing to cripple Russia’s economy, the country has had to look to alternative payment systems since being cut off from SWIFT – turning to China’s UnionPay. Since the onset ...
Mastercard & Visa Divorce from Russia: What’s Next for UnionPay
Western sanctions in Russia keep increasing across the board, with several companies announcing their withdrawal from the territory, including Mastercard and Visa, major financial payment processors. ...
Russian Banks Seeks Help from China’s UnionPay amid Crackdown from Mastercard & Visa
Following the service cut from American payment giants Mastercard and Visa, the Central Bank of Russia (CBR) has informed its citizens that credit and debit cards issued by these service providers wil...
Russia Turns to China’s UnionPay System Amid Visa and Mastercard Departures
Visa and Mastercard joined the growing list of western financial companies that announced plans to withdraw from Russia. Looking for alternatives, the nation’s central bank said it has turned to China...
Russian Sberbank is Turning to UnionPay Following Visa and MasterCard’s suspension.
Visa and Mastercard announced on Saturday that they are suspending operations in Russia within the next several says. Cards that were issued in Russia will cease working outside of Russia. Likewise, c...