The law requiring international payment systems to move processing to Russia in order to avoid paying a substantial security deposit will cost Visa $50 million in revenue, the management of the U.S. company said in a conference call on its quarterly report.
Management said Visa is continuing to work with the Russian authorities and banks on a commercial solution that will enable the company to continue serving clients in Russia.
Visa forecasts $50 million loss on moving processing to RussiaRead More
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International, News, Payment & banking technologies, Payments
