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MasterCard Rejects Sberbank’s Offer To Buy Maestro

According to a source close to the reported negotiations, Sberbank considered the possibility of buying the Maestro brand from MasterCard, but the latter refused to sell, reports the KyviPost.

The news comes from the sidelines of St. Petersburg International Economic Forum.

The rejected move by the Russian bank comes as both Visa and MasterCard contemplate pulling out of Russia and sanctions make transactions more difficult.

This also comes as Sberbank is continuing a future operating outside of Russia. Reuters reports that the bank is considering expanding its services into China.

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