Visa and Mastercard Services in Cuba to Cease from 6 June

Havana (ANTARA) - The Central Bank of Cuba stated on Wednesday (3/6) that payment services operated by Visa and Mastercard will cease to function in the country from 6 June. In a press release, the central bank stated that a foreign bank had announced it would terminate its commercial relationship with Fincimex S A, a Cuban financial services and remittance company which processes these transactions. The central bank said the disruption is directly linked to Executive Order 14404, signed by United States President Donald Trump on 1 May, as part of Washington’s strategy to pressure the Cuban people. As a result, Cuba will not be able to obtain revenue from the sale of goods and services via international payment cards such as Visa and Mastercard, the central bank said, adding that other payment methods for foreign currency transactions in Cuba remain available, including cash, national prepaid cards, and international cards such as Mir and UnionPay.