News and resources on payments systems, innovations and initiatives worldwide.
Western Union joins Russia exodus

Western Union joins Russia exodus

Western Union is the latest payments giant to suspend operations in Russia and Belarus in response to what it has called the "unprovoked and unjustified invasion of Ukraine".

The money transfer giant joins the likes of PayPal, Mastercard, Visa and Amex in shutting down services in Russia.

In a statement, Western Union says it evaluated the consequences for employees, partners, and customers before deciding on the suspension "in light of the ongoing tragic impact of Russia’s prolonged assault on Ukraine".

Meanwhile, the US firm has also stressed its work to support Ukrainian customers, including the millions who have been forcibly displaced, through donations to support humanitarian relief efforts and fee-free money transfer services.

Elsewhere, Wall Street players Goldman Sachs and JP Morgan Chase signalled their withdrawal from Russia, with both saying that they are winding down operations in the country.

Comments: (0)