Timchenko refused Visa and MasterCard

Russian businessman Gennady Timchenko in consequence of the South American sanctions entered against him in early March 2014 after the annexation of Crimea to Russia, was replaced by Visa and MasterCard for card Chinese payment system Union Pay and wallet with cash.

Timchenko 20 March was included by the Ministry of Finance of the United States in the list of persons with whom the South American firms and the natives do not have the right to maintain business relationships, even registered in the U.S. Visa and MasterCard. The businessman said he has stopped using cards of these payment systems. "Have, as before, to carry a wallet with cash," he complained Timchenko, adding that he is also a card of China Union Pay.

"As penalties imposed, at once put it," - said he. Very good works! And take the map in many places. In a sense, more reliable than Visa. At least Americans don't get it", - said Timchenko.

The inclusion of the entrepreneur in the sanctions list of the United States created problems in terms of payments to his wife. "The wife of Gennady Timchenko had surgery and was not able even to pay for it, as were blocked its accounts and cards," - said the President of Russia Vladimir Putin on April 17, during his own "straight line", qualifying the incident as a violation of human rights.

Putin learned about the case at a meeting after the announcement of the punishment session of the Russian geographical society, a co-Trustee of which is considered Timchenko. "Vladimir Putin asked how we feel in the new environment. I gave the answer, they say, all right, but there are interesting moments. And told a story, which the President after that mentioned", - quotes entrepreneur ITAR-TASS.

"Hospital (Germany) exhibited account and Deposit failed, although the punishment did not seem to apply to the family, besides, Europe does not brought us any stop-lists. Naturally, we found a way out, paid for everything, but what happened, you see, is a great stupidity," concluded Timchenko.

Payment system China UnionPay and JCB took advantage of the situation and started active negotiations with the banks about the beginning of acquiring. Year-end servicing of cards of these payment systems can start the Bank and Gazprombank, Alfa-Bank and VTB24 plan to expand cooperation and PSB plans to start acquiring these cards at the beginning of the coming year. Their active issue on the Russian market can be expected in two to three years.

Active they are in the spring, when it was 1st blocking cards Visa and MasterCard Russian banks in connection with the punishment. China UnionPay is already negotiating on one stage or another with all banks of the top 20 merchant acquiring.

sections: Economics, Accidents