Cuba Suspends Visa, Mastercard Payments From June 6 as U.S. Sanctions Cut Off Processing
Updated
Updated · Reuters · Jun 3
Cuba Suspends Visa, Mastercard Payments From June 6 as U.S. Sanctions Cut Off Processing
3 articles · Updated · Reuters · Jun 3
Summary
June 6 is when Cuba will stop accepting Visa and Mastercard transactions after its central bank said it can no longer receive card-payment income for goods and services.
A foreign partner that had processed those payments decided to limit operations after a May 1 U.S. executive order sharply broadened sanctions on commerce with Cuba.
The disruption hits a tourism-dependent economy already under strain, with card processing historically handled through Fincimex and GAESA, the military-run conglomerate targeted by U.S. sanctions.
Recent weeks have already brought an exodus of foreign hotel operators, airlines and shipping firms as businesses distance themselves from Cuban entities exposed to the tougher U.S. measures.