RuPay Global cards Suspend Russian Operations over Ukraine crisis

20°
  • 414
  • 1
Pro Blogger
abhishek012

RuPay Global cards Suspend Russian Operations over Ukraine crisis:

RuPay Global cards issue on 2 variants RuPay-JCB Global Cards and RuPay-Discover/Diners club Global cards, both International partners now Suspend Russian Operations over Ukraine crisis.

1) RuPay’s International card partner JCB statement -

JCB cards issued in Russia will no longer be supported outside the country, while JCB cards (RuPay-JCB Cards) issued outside of Russia will be unusable in the country.

The Japanese company said in a release that the measures will be taken “in light of the sanctions in response to Russia’s invasion of Ukraine.”

JCB follows other major credit card companies such as American Express Co., Visa Inc. and Mastercard Inc. in halting operations in Russia.

“Together with the global community, we hope that peace and stability will be restored in Ukraine soon,” JCB said in the release.

The company said Tuesday that under the suspension, JCB cards issued in Russia can’t be used outside the country, while JCB cards issued outside of Russia can’t be used at Russian retailers.

After Visa and Mastercard halted their Russian operations, a Russian lender, Gazprombank, had said its customers could still do cross-border transactions by getting JCB cards. That will no longer be the case. In a statement on its Telegram channel Tuesday, Gazprombank confirmed the JCB suspension and advised customers looking for ways to make purchases abroad that they could apply for a card using China’s state-owned UnionPay International Card system.

——————————————————————————————————————————————

2) RuPay’s International card partner Discover/Diners Club card statement -

The Discover Global card network said Tuesday (March 8) it has no active partners in Russia and Belarus, and that its Discover, Diners Club, Network Alliance Partners like RuPay-DFS Cards and PULSE cards are not being accepted there.

“Before Russia’s invasion of Ukraine, Discover/Diners Club International was in the process of establishing a Russian branch office and registering it with the Central Bank of Russia as a foreign payment system operator,” the company said in a news release. “We have suspended all actions to pursue the registration in Russia at this time.”

In addition to suspending all transactions sanctioned by Russian banks on its network, Discover said it is suspending acceptance of cards issued by all Russian and Belarusian banks that run on the Discover Global Network, including its partner networks.

With this announcement, Discover joins rivals Visa, Mastercard and American Express, who have all said they would cease operations in Russia in response to that country’s invasion of Ukraine late last month.

Mastercard and Visa announced their exit from Russia over the war in Ukraine on Saturday, followed by American Express on Sunday.

“With this action, cards issued by Russian banks will no longer be supported by the Mastercard network. And, any Mastercard issued outside of the country will not work at Russian merchants or ATMs,” Mastercard said.

PayPal also suspended its service in Russia over the weekend, according to a letter to the Ukrainian government from chief executive Dan Schulman.

While the payment processor had already ceased domestic services in Russia in 2020, this latest move relates to its remaining cross-border payments business in the country.

Expired
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
replyuser
Click here to reply
Reply