Company Spotlight

MasterCard Removes Block On Cuba Transactions For U.S.-Issued Cards

A month after U.S. President Obama announced that the U.S. would ease up on restrictions on Cuba trade and travel, MasterCard announced today that it is removing the current block on U.S.-issued card transactions in Cuba, starting on March 1 of this year. The action is based on recent guidance from the U.S. Department of Treasury’s Office of Foreign Assets Control.

MasterCard says it will work with its U.S. issuers to support their Cuba-related activities and decisions. Before traveling to Cuba, however, U.S. cardholders should contact their bank to ensure the card will be supported on the island.

North Korea, Iran, Sudan and Syria will continue to be blocked by MasterCard after March 1, the company indicated.




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