BelVEB to stop issuing most Visa, MasterCard cards for retail customers

MINSK. Aug 22 (Interfax) - BelVEB Bank, the Belarusian division of Russia's VEB.RF Group, has announced that it will stop issuing most cards from international payment systems Visa and MasterCard for retail customers as of September 22, 2023.

"BelVEB Bank will stop issuing Platinum, Infinite, Gold (with the exception of the issue of Yarkaya Kreditka cards), Standard, Classic, World and Rewards cards for individuals effective September 22," the bank said on its website.

The bank's press service told Interfax that this applies to Visa and MasterCard cards.

These cards, which are issued until September 21, will be serviced on the previous terms until they expire, the bank said on its website.

The bank will continue to issue the cards of national payment system Belkart, the press service said.

The bank later announced that it would also cease issuing corporate cards for the Visa and MasterCard systems as of September 22.

"The issuance of Business corporate cards will also cease as of September 22. The cards are excluded from the list of services included in the service packages for corporate clients Business Rise, Business Planer, and Business Maneuver," the bank said in an updated statement.

Regarding individuals, Visa and MasterCard corporate cards issued before September 21, 2023, will be serviced under the same conditions until the expiration date.

BelVEB, which has been operating in Belarus since the end of 1991, was the eighth largest by assets of the country's 24 banks at the end of 2022.