Many people in the nation are no longer able to use Apple Pay.
The United States and several of its allies have increased sanctions on Russia in response to its invasion of Ukraine.
According to Business Insider, the penalties have a negative impact on the country’s capacity to accept digital payments. Customers of Russian banks have been unable to utilise systems like Apple Pay and Google Pay as a result of the restrictions. Sanctions have an effect on the following financial institutions:
- VTB Group
- Sovcombank
- Novikombank
- Promsvyazbank
- Otkritie
Cards issued by these banks will no longer be allowed to use digital payment systems like Apple Pay and Google Pay, according to the Russian Central Bank.
There will be no international transactions or online payments for those clients of those banks, according to the Central Bank.
Clients who have physical cards issued by Russian banks may continue to do so. If their card allows contactless payments, they can also make purchases with it.
A day after Ukraine’s Vice Prime Minister addressed a letter to Apple CEO Tim Cook requesting that the firm shut down the App Store and all of its other digital services companies, the company announced that it will no longer be selling its products in Russia.