Mastercard, Visa suspend operations in Russia after invasion
Mastercard and Visa are suspending their operations in Russia, the companies said Saturday, in the latest blow to the country’s financial system after its invasion of Ukraine
Kathmandu, Sept 2 . Nabil Bank has bagged ‘Excellence in Consumer Debit Cards Business 2022’ and ‘Excellence in E-commerce Acquiring Business 2022 awards 2022 for its excellent growth and achievements in debit card and e-commerce acquiring business amongst all banks in Nepal. The awards were presented toNabil during ‘Visa Leadership Conclave – Payments Innovation for […]
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According to the Associated Press, Visa and Mastercard are halting operations in Russia, dealing another severe blow to the country's financial sector. Visa says it's working with Russian partners to "stop all transactions in the coming days," according to a statement on the company's website. Mastercard issued a supplementary press statement with a similar message, stating that it is halting services in Russia and that its decision was not made "lightly."
Both firms state that transactions conducted with Mastercard or Visa cards issued by Russian banks will not operate outside the country, and that cards provided by foreign banks will not work at Russian businesses or ATMs. Visa CEO Al Kelly said, "We regret the impact this will have on our valued staff, as well as the customers, partners, retailers, and cardholders we serve in Russia." "We must respond in accordance with our beliefs in response to this conflict and the continuous...
A digital asset exchange established in Hong Kong In Brazil, crypto.com has started offering Visa crypto cards to its members. Users who apply for the cards and receive them will not be charged any monthly, yearly, or ATM withdrawal fees, according to the business. Unlike traditional Visa credit cards, which provide a line of credit, crypto Visa cards are prepaid and must be refilled with fiat or cryptocurrency.
These cards can convert all of the DeFi protocol's tokens stored in them into the currency of the respective market, which can subsequently be used for purchases and ATM withdrawals. In a blog post announcing the expansion, the asset exchange business noted, "The Crypto.com Visa Card gives up to 8% back on spending, LoungeKey airport lounge access, and 100% subscription refunds for Spotify, Netflix, and Amazon Prime."
After applying for the card, Brazilian citizens must go through an approval process. Users will be provided a virtual card as soon as the...
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