Visa stops servicing SMP bank, Investcapitalbank cards, Mastercard to follow

Visa has stopped servicing cards issued by Russia's SMP bank and InvestCapitalBank and MasterCard will stop servicing them soon, the payments systems said in press releases.

Visa has stopped servicing cards issued by Russia's SMP bank and InvestCapitalBank and MasterCard will stop servicing them soon, the payments systems said in press releases.

Both banks, controlled by Arkady and Boris Rotenberg, were put on a second list of U.S. sanctions against Russia on Monday.

Visa said it regretted inconvenience caused to the banks and the holders of their cards and to trade and services outlets. It said all Visa systems were functioning as normal and that it continued to provide services to other clients in Russia.

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