PayPal shuts down services in Russia
Highlight
- Ukraine’s Deputy Prime Minister Mykhailo Fedorov tweeted a letter from PayPal CEO Dan Shulman
- The letter confirmed the company’s decision to close its operations in Russia
- “We received a letter from PayPal CEO Dan Schulman,” Fedorov said
Payments company PayPal has announced that it is suspending its services in Russia in the wake of Ukraine’s invasion. Ukraine’s Deputy Prime Minister Mykhailo Fedorov tweeted a letter from PayPal CEO Dan Shulman, confirming the company’s decision to shut down its operations in Russia.
“We received a letter from Dan Schulman, CEO of PayPal. So now it’s official: PayPal has closed its services in Russia citing Ukraine’s aggression. Thank you PayPal for your support! Hope you get it soon.” Will open 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 doing everything we can to support our employees in the region during this difficult time.”
Visa and Mastercard have also announced the suspension of all operations in the country in the wake of the invasion of Ukraine.
Visa said it would work with its customers and partners within Russia to stop all Visa transactions in the coming days.
Once completed, all transactions initiated with Visa cards issued in Russia will no longer operate outside the country and any Visa cards issued by financial institutions outside Russia will no longer operate within the Russian Federation. will not, the company said late on Saturday.
(With inputs from IANS)
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