Business

Discover ceases banking efforts in Russia

Posted March 07, 2022 10:00 pm

RIVERWOODS - Discover and Diners Club International are no longer pursuing operations in Russia and Belarus, the credit card company announced.

Before Russia's invasion of Ukraine, Discover/Diners Club International was in the process of establishing a Russian branch office and registering it with the Central Bank of Russia as a foreign payment system operator. Discover has suspended all actions to pursue the registration in Russia at this time, it said in a news release.

"In addition to having already halted all transactions by sanctioned Russian Banks on our network, we are suspending acceptance of (credit) cards issued by all Russian and Belarusian banks that run on the Discover Global Network, including through its partner networks," the statement said.

Discover Financial Services is a digital banking and payment services company with one of the most recognized brands in U.S. credit card services. Since its inception in 1986, the company has become one of the largest card issuers in the United States.

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