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U.S. sanctions will not affect the work of Visa and MasterCard

The new pack of sanctions does not make international payment system to limit services provided.

03.Aug.14 4:17 PM
By Mihail Prygunov


U.S. sanctions will not affect the work of Visa and MasterCard
The new sanctions, which were imposed by the US against some Russian banks do not limit the international payment systems Visa and MasterCard in customer service of these banks. This was stated by the representatives of payment systems. Limitations apply to certain banks and their access to the capital US market, at the same time this does not affect the activity of Visa and MasterCard.

The US imposed restrictions against some Russian banks, banning citizens and companies of America to buy their new shares and to extend them new loans for a period of 90 days. All other operations with banks that fall under the restrictions are not prohibited.

The Central Bank of the Russian Federation has already declared that it is ready to assist financial institutions that fall under the scope of the restrictions. Representatives of the banks said that U.S. sanctions will have no effect on their customers.

Previously operators Visa and MasterCard suspended the maintenance of some individuals-clients of the banks hit by sanctions. This was the main reason of development of the national payment system (NPS), which protects users of plastic cards from influence outside. The expert group attached to the Central Bank decided that the operator of the NPS will be a separate public company attached to the control of the Central Bank. During the meetings it was decided to create the technological platform of a new system. It will take about 12 months to organize an operational clearing centre, it remains 18 month to start an issue of new cards.

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