Skip to main content

Russia was Banned from SWIFT and Many Countries are Still Calling for Its Total Disconnection. So, what exactly is SWIFT?. Click here to learn more.



On Sunday 6-March-2022, several Russian banks announced plans to start issuing cards using the Chinese UnionPay card operator system.


The step, which came shortly after Mastercard and Visa pledged to cease operations in Russia and disconnect all the country’s banks from their payment systems, will enable the holders of new cards to use them for paying and withdrawing cash abroad.


On Saturday, international financial service providers Visa and Mastercard said they would suspend operations in Russia within the next several days due to the latest Western sanctions related to Moscow’s ongoing war in Ukraine. The drastic step makes the use of cards issued in Russia outside the country implausible. Likewise, cards that were issued outside of Russia will stop working in Russia.


Visa and Mastercard are the latest international brands taking harsh moves towards Russia over the Ukrainian conflict. Earlier, companies such as PayPal, Netflix, Intel, Inditex, Airbnb and Rolls Royce announced they were leaving the country’s market.


 Visa, MasterCard suspend Russian operations READ MORE: Visa, MasterCard suspend Russian operations

Russian banks, including Sberbank, Russia’s biggest lender, as well as Alfa Bank and Tinkoff issued announcements regarding the switch to UnionPay due to the latest developments. Some of Russia’s banks, like Pochta Bank, Gazprombank, Promsvyazbank, Sovcombank and several other minor banks had been previously working with the UnionPay card operator’s system.


UnionPay, an international payment system founded in 2002, received international status in 2005. Headquartered in Shanghai, the company reportedly operates in more than 180 countries across the globe, including Switzerland, Greece, Italy, Spain, Germany, Mexico, Cyprus, Thailand, India, Israel, Portugal, Croatia, Poland, Serbia, Hungary and Austria.

Comments

Popular posts from this blog

UGANDA ELECTORAL COMMISSION TO ELIMINATE NATIONAL IDENTIFICATION CARDS (IDs) FOR 2021 GENERAL ELECTIONS.

The elimination of using National IDs (Ndagamuntu) for the 2021 elections should not have come as a surprise. One would be very NAIVE to think that Bobi Wine has not prepared for this in his Business Plan under the RISK section. It is public knowledge that our EC is not independent.  It is also public knowledge that Military Dictator Yoweri Museveni will never lose an election. What stunned us this morning is when we noticed that on social media, people were mocking Bobi with his "get your Ndagamuntu".  We are on record for saying to all Our readers that the National ID is like Apartheid in South Africa. Students of History would know how those IDs were being used to arrest people, deny them jobs, deny them basic services. Consequently, Bobi was not wrong and will never be wrong on the Ndagamuntu. Except the ones attacking him and mocking him forget that in Uganda, now, no National ID (Ndagamuntu), no service.  If you have not been denied registering your child i...

Here is Why Our Utterances For Praying Jesus And God To Come Liberate Ugandans, May Be Misplaced. This Phrase is like inform of a Letter To Some Categorized Section Of Ugandans.

https://m.facebook.com/yusufosuta/photos/a.1896701010557789/2070383359856219/?type=3 OPEN LETTER TO NRM SUPPORTERS - NATIONAL ROBBERS MOVEMENT. .................................................................................. Last week of March, a friend told me to pray for Uganda.  I told him that he was an Idiot and we have prayed for too long and we are still hungry and sick and Jesus is not coming soon to liberate us. He then ignored the STUPID and sent me a picture we all now know.  It got me totally messed up.  This guy was telling me to pray then sends a picture of men bowing down in blood.  He might have meant guns but I blocked him because his utterances of praying for Uganda were misplaced. I unblocked him 3 weeks later and asked him about praying and assassinations.  His reply "eithrr prayers or guns or both". I hate violence with a passion.  So he is now blocked in like FOREVER. Do you feel safe?  Do not feel safe. Uganda regim...

CAN I CHANGE MY MIND ABOUT THE INHERITANCE I RECEIVED AND ASK FOR SOMETHING ELSE ?.

#iip_updates . #Information_is_Power . Read more here https://informationispowah.blogspot.com/2023/07/can-i-change-my-mind-about-inheritance.html in the link. #we_inform_the_uninformed . Okello lost his wife 20 years ago and decided to only focus on their Mateo, Yona and Yosefu. 20 years later, Okello had 7 acres of land, a successful poultry business, and sinotrucks for hire. Early this year, Okello got a call telling him that one of his trucks knocked a boda boda. Okello decided to rush to see if he could sort it out before police became involved. Unfortunately, he never made it, as he was entering the main road, another trailer rammed into him and killed him instantly.   After Okello had been laid to rest, his sons sat down and divided the property amongst themselves. However, of late, Yosefu the last born has started complaining that he was cheated, and he wants to be given something else because most of the chicken in the chicken business died of a fever.   Can ...