Alternative to Visa & MasterCard set to work in Crimean Peninsular by May 1

An alternative to Visa and Mastercard worldwide installment frameworks will begin working in Crimea by May 1, Crimean Prime Minister Sergei Aksyonov supposedly said.

MOSCOW, January 31 (Ooduarere) — Crimean Prime Minister Sergei Aksyonov said that an alternative to Visa and Mastercard worldwide installment frameworks will begin working in Crimea by May 1, Kommersant FM radio station reported Friday.

“A replacement for operation with plastic cards has already been found, alternative schemes have been found… Banks will launch everything before the holiday season, everything will function by May 1. The mechanism already exists, has already been tested in this case,” he radio station cited Aksyonov as saying.

In December 2014, US installment goliaths Mastercard and Visa suspended administrations to banks in Crimea.

Such US organizations as Paypal, Apple and Google have additionally stopped business exercises in the landmass in the wake of an order issued by US President Barack Obama on December 19, 2014. The order said that US organizations must quit supplying items to Crimea by February 1, 2015.

The limitations particularly focusing on Crimea were forced by Western nations after Crimea’s reunification with Russia in March 2.