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

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite News Microsoft is set to cut around 9,000 jobs —

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy, Pralhad Joshi, asserting that the country is empowering the Global

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units and marking a new milestone that highlights the company’s expanding

India Bats for Fairer Global Finance: FM Sitharaman

FM Sitharaman stated that we believe that optimal regulation fosters innovation and stability….reports Asian Lite News India supports reforms to the international financial architecture to enhance inclusivity and equity, including Multilateral Development
Go toTop