Cuba Reports Disruption of Visa and Mastercard Processing

Cuba’s Central Bank (BCC) reported today that on June 2 it received communication from the foreign bank that processes transactions made on Cuban territory using Visa and Mastercard cards, stating it would interrupt its relationship with Fincimex S.A.

The disruption is directly related to Executive Order No. 14404 of May 1, issued by U.S. President Donald Trump as part of his strategy of suffocation against the Cuban people, the entity stated.

As a result of the decision, Cuba is unable to receive income from the marketing of goods and services through proven international card networks such as Visa and Mastercard.

According to the BCC, the foreign bank announced that as of June 6—the date the imperial measure takes effect—it has become illegal and impossible to continue executing agreements with the Cuban entity.

The BCC clarified that established payment methods for foreign currency transactions in the country remain in place: cash, the 100-percent national prepaid Clásica and Tropical cards, and the international Mir and Union Pay cards.