The world's leading credit cards issued by Russian banks will no longer be accepted outside the country, while those issued abroad will not be valid for transactions, it was announced over the weekend.
Mastercard and Visa have both agreed to cut their fees for tourists using their cards in the EU, after a long-running battle with the European Commission. The credit card firms will now charge retailers around 40% less on non-EU credit and debit cards payments.
The United States is considering imposing financial sanctions that could prohibit Visa, Mastercard and other financial institutions from processing transactions in Venezuela, a senior Trump administration official said on Thursday. The move, which has not been finalized, would represent another step in tightening the financial noose on the government of President Nicolas Maduro and his supporters.
Visa Inc, Mastercard Inc, and a number of U.S. banks on Tuesday agreed to pay US$ 6.2 billion to settle a long-running lawsuit brought by merchants over the fees they pay when they accept card payments.