March 7, 2022
1 min read

PayPal suspends services in Russia


Visa and Mastercard have also announced to suspend all operations in the country in the wake of Ukraine invasion…reports Asian Lite News

Payments company PayPal has announced that it is suspending its services in Russia in the wake of Ukraine invasion.

Ukraine’s vice prime minister Mykhailo Fedorov tweeted a letter from PayPal CEO Dan Schulman, confirming the company’s decision to shut down its operations in Russia.

“We received a letter from Dan Schulman, CEO PayPal. So now it’s official: PayPal shuts down its services in Russia citing Ukraine aggression. Thank you, PayPal for your supporting! Hope that soon you will open it in for Ukraine,” Fedorov said in a tweet.

“Under the current circumstances, we are suspending PayPal services in Russia,” Shulman says in the letter. “We are also doing all that we can to support our staff in the region during this deeply difficult time.”

Visa and Mastercard have also announced to suspend all operations in the country in the wake of Ukraine invasion.

Visa said that it will work with its clients and partners within Russia to cease all Visa transactions over the coming days.

Once complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa card issued by financial institutions outside of Russia will no longer work within the Russian Federation, the company said late on Saturday.

ALSO READ-Sun Mark Shines At Gulfood

Previous Story

Moscow, Kiev hold third round of talks

Next Story

South Korea to commercialise 6G services

Latest from Business

Accel Puts India’s AI Power in the Spotlight

Under the theme “Engineering India’s AI Advantage,” the exclusive, invite-only event will bring together leading AI founders, researchers, tech CXOs, policymakers, and global investors….reports Asian Lite News Global venture capital firm Accel

Nvidia slams US chip export curbs as ‘failure’

Jensen Huang said the US move has backfired by accelerating China’s self-sufficiency in semiconductors and diminishing American dominance in the global chip market…reports Asian Lite News Nvidia CEO Jensen Huang has sharply

SEBI Warns on Strata Exit

Strata was one of the first platforms to register under SEBI’s newly introduced SM REIT framework, which was designed to regulate fractional ownership in real estate and allow investors to pool capital
Go toTop