Roughly $1.2 billion of Visa Inc.'s annual internet revenue comes from Russia and Ukraine, the place sanctions and battle have made it tricky to do enterprise.
Russia accounted for some 4% of Visa's total internet earnings in its final fiscal yr, the enterprise pointed out in a Securities and exchange commission submitting Wednesday. Ukraine, the company said, accounted for approximately 1%.
Visa had $24.1 billion in internet earnings all over its remaining fiscal yr.
Visa and Mastercard Inc., both largest U.S. card networks, have an identical volume of exposure to Russia and Ukraine. Roughly $1.1 billion of Mastercard's annual net revenue comes from both countries, or about 4% from Russia and 2% from Ukraine, the business spoke of in a Tuesday filing.
Russian banks difficulty many debit and credit playing cards with the Visa and Mastercard logos. U.S. networks address transactions in Russia however aren't doing that once sanctioned Russian banks are worried as card issuers.
Russian cardholders are still capable of use these playing cards for purchases within the nation, however their transactions are going over different networks, namely Russia's own network Mir. playing cards issued with the aid of sanctioned banks might also now not work outside the nation, and international buyers may additionally run into trouble using their cards in Russia.
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