MasterCard to move payment processing to RussiaStaff writer ▼ | January 13, 2015
MasterCard has agreed to transfer card processing inside Russia to the local state-owned system, Russia's Central Bank said.
International Central Bank of Russia:
The agreement between MasterCard and the Central Bank-controlled National System Of Payment Cards, or NSPC, was reached on Dec. 30, the bank said.
The move was made in line with Russian law and will not affect cardholders, MasterCard's representative was quoted as telling Interfax news agency. The company previously used its own processing system outside Russia.
The West has imposed sanctions on several Russian banks over the Kremlin's annexation of the Crimean peninsula from Ukraine and its support of pro-Russian separatists in Ukraine's east.
MasterCard and competitor Visa Inc said in December they could no longer support bank cards being used in Crimea, following U.S. sanctions. ■