Payments News
Highlights
- Visa and Mastercard have cut Russian financial institutions off from their payments networks.
- The move was sought by Ukraine National Bank Governor Kyrylo Shevchenko to increase pressure on Vladimir Putin and his regime.
- The card giants each pledged to donate $2 million for humanitarian assistance to help Ukrainians displaced by the war.
- The U.N.
- expects to swell to as many as 5 million people displaced by war, the UN expects to reach 5 million by the end of the year, according to the U.S.
- The move is part of a coalition of some of the world’s richest nations to impose their first Swift sanctions against Russia over its invasion of Ukraine.