Visa and MasterCard may say ‘do svidanya’ to Russia

Visa and MasterCard may say ‘do svidanya’ to Russia

Credit card giants Visa and MasterCard may be on the verge of winding down business operations in Russia, Businessweek reports. A new law passed by the Russian Duma, at Vladimir Putin’s behest, stipulates the companies would have to keep large sums of money at Russia’s central bank as collateral beginning July 1st. Not surprisingly, Visa and MasterCard are unwilling to do this.