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.
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