UnionPay remains the only international payment system that continues to operate in Russia.
The Chinese payment system UnionPay banned the service of its cards issued by foreign banks at the POS-terminals of Russian acquiring banks that fell under the sanctions. RBC reported this with reference to sources on Friday, September 2.
According to a person at a large bank, UnionPay may have made such a decision due to fear of a second penalty. Another source in the bank clarified that the cards stopped working in the spring. “In April-May, after the imposition of sanctions,” he specified.
“Yes, in fact, the Chinese UnionPay payment system, on its own initiative, has limited partnerships with sanctioned banks both in terms of acquisition and issuance. In particular, the acceptance of foreign UnionPay cards is disabled only by verbal notification,” a payment source. said the market.
As you know, in March of this year, the largest international payment systems Visa and Mastercard left Russia after the Kremlin unleashed war against Ukraine. Their foreign cards do not work in Russia, and Russian cards do not work abroad. UnionPay remains the only international payment system that continues to operate in Russia.
It was previously reported that the Russians were removing ATMs in Finland. In order to stock up on the coveted currency, citizens of the aggressor country use UnionPay cards.
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Source: korrespondent
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