Against the backdrop of the invasion of Ukraine, the largest payment systems stop serving Russian residents.
PayPal Holdings Inc announced a suspension of operations in the Russian Federation. This decision was made against the backdrop of the Russian invasion of Ukraine. The President of PayPal said:
In the current circumstances, we are suspending PayPal's operations in Russia.
The London-based fintech startup Revolut made a similar decision. Starting from March 4, the company does not carry out transfers in Russia and Belarus and does not support replenishment from cards issued by banks in these countries.
Subscribe to ForkNews in Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Square changes name to 'Block'
Jack Dorsey's payments firm is rebranding. The changes will take effect on December 10.
SWIFT GPI vs RIPPLE NET
Can SWIFt GPI save correspondent banking, which is in danger of extinction due to the popularization of the RippleNet payment system? Both systems have advantages and disadvantages. Financial corporations must adapt to the new market conditions, which offer cheap, transparent and fast payment solutions.
