Date: 3 months ago   Category: Financial

The Crimea was left without Visa and MasterCard. That now


The last bank on the annexed peninsula stops service of cards of the international payment service providers. In the Crimea don't issue the card of the international Visa and MasterCard systems any more. All banks on the annexed peninsula have passed the World to the Russian payment service provider. Visa and MasterCard have stopped working in the Crimea at the end of December, 2014 because of the sanctions imposed by the USA, however their cards continue to function. Корреспондент.net tells details. As Visa and MasterCard work in the Crimea One of the largest banks working in the Crimea, Genbank since August 14 has stopped service of Visa and MasterCard. Bank cards of payment service providers has transferred all the clients to the Russian payment service provider the World. "Due to the termination of term of replacement of the cash cards of the international payment service providers Visa Int emitted by JSC Genbank. and MasterCard, since August 14, 2018 cards according to which replacement isn't made will cease to be served", - Genbank is said in the statement of the press service. Without water from Dnieper. There is no drought consequence in the Crimea on the annexed peninsula with the population in two million people any more Now banks which issue cards of the international payment service providers. The Moscow Genbank has begun to work in the Crimea after annexation. Now he is second-large networks credit institution of the Crimea after RNKB. He has more than 90 offices on the annexed peninsula. In 2014 in the Crimea 31 Russian banks worked. Since then their quantity constantly decreases. At the moment their everything around ten there is also no Russian Sberbank. In December, 2014 two largest international payment service providers Visa and MasterCard declared turning of the work in the Crimea. The decision has been made after sanctions of the USA which forbid the American companies to provide services to the companies which are in the territory of the peninsula. Clients of the Crimean banks couldn't use bank cards outside the peninsula, and card owners of the Russian banks couldn't withdraw money in the Crimea. Genbank was the only bank in the Crimea making release of cards of the Visa and MasterCard systems on the peninsula after annexation. Till 2017 the Visa and MasterCard cards in the Crimea Rublyov released still bank. In June the Central Bank of the Russian Federation has revoked the license from it. Sources of Reuters noted earlier that, despite sanctions, the Crimean banks emit and support cards of the international systems thanks to their stock which has been released to sanctions, and thanks to the Russian national payment service provider of cards created in 2015. The World, close to the operator of cards, has emphasized a source to the agency that this system allows to support smoothly cards of the banks which are under sanctions. Genbank in Yalta / Getty "All Banks — Participants of This System, Signing the Contract, Undertake to Accept and Support Cards of the International Payment Service Providers of All Banks, including from the Sanctions List", - the interlocutor of the agency has explained. As two companies from Germany have got on the sanction in the Crimea the Employee of call center of Genbank in a conversation with Reuters has specified that it it is solved

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