Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

Japanese card company JCB has joined the likes of Mastercard and Visa in halting its operations in Russia amid the country’s ongoing military offence against Ukraine.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The firm is suspending network operations in the Russian Federation in light of the ‘unforeseen’ conditions in the region and the challenges faced.

JCB stated that it is taking these steps while complying with contracts as well as regulations.

The firm said in a statement: “With this action, JCB cards issued in Russia will no longer be supported outside the country, and any JCB cards issued outside of Russia will no longer be supported within the Russian Federation.

“We regret any inconvenience this may cause to our customers and partners.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Several payments and fintech firms have cut their ties with Russia in order to comply with sanctions announced on the country in the wake of the Ukraine crisis.

Earlier this week, US-based payments company Discover ended its pursuit of Russia’s payment space.

It was looking to establish a regional branch in Russia, plans which now have been put on hold.  

This week, Visa and Mastercard stopped their network services in Russia while American Express ceased all operations in Russia and Belarus.

Russia is now considering China’s UnionPay to issue cards as foreign card firms continue to suspend their services in the country.

The Bank of Russia has urged regional lenders to start issuing cards co-badging the domestic Mir payments system along with UnionPay.