Following Western sanctions against Russian financial institutions in response to the invasion of Ukraine, customers of several of the country’s largest banks can no longer use their debit and credit cards in conjunction with Apple Pay and Google Pay. Affected organizations include Sovcombank, Novikombank, Promsvyazbank and Otkritie FC Bank, according to a press release from VTB Group discovered by .
Customers of these banks can still use their cards for contactless payments as long as they support the feature. However, they do not work abroad and cannot be used for online purchases from retailers registered in countries that have imposed sanctions on Russia.
as Note that Apple Pay and Google Pay are not as popular in Russia as native options like YooMoney. Accordingly At the time, only 29 percent of Russians said they used Google Pay, while 20 percent said they used Apple Pay. Therefore, these restrictions should not affect Russian consumers too much as they have access to alternatives. However, there is a possibility of Russian banks from the could lead to things like currency volatility that would further hurt the country’s economy.
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