RBC: UnionPay has limited the acceptance of its cards issued abroad in Russia
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UnionPay has banned servicing its cards issued by foreign banks in POS-terminals of Russian acquiring banks that have fallen under sanctions. This is reported RBC with reference to sources. UnionPay declined to comment on this information.
According to one of the sources, the cards of the Chinese payment system stopped working “in April-May.” Another interlocutor of RBC in a large bank believes that UnionPay’s decision is related to the fear of secondary sanctions.
“UnionPay, on its own initiative, has limited partnerships with sanctioned banks, both in terms of acquiring and issuing. In particular, only by verbal notification was the acceptance of foreign UnionPay cards disabled, ”confirmed the source of the publication in the payment market.
In early March, the international payment systems Visa and MasterCard suspended their work in the Russian Federation. Against this background, the Russians increased demand to UnionPay cards. Many foreign online stores, however, do not accept payments with UnionPay cards issued in Russia, recognized “b”. In April RBC informedthat UnionPay refused to cooperate with the banks that fell under the sanctions.
Details – in the material “Kommersant FM” “Union Don’t Pay”.
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