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last mo.

Visa and Mastercard to Stop Working in Cuba After Foreign Processor Cuts Ties

U.S. Executive Order No. 14404 prompted a foreign processor to end its relationship with Fincimex, cutting a major channel for tourism and remittances.

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Cuba aseguró que seguirán habilitados otros medios de pago en divisas.
La suspensión de operaciones con Visa y Mastercard entrará en vigor el 6 de junio.
La medida supone el corte de todas las conexiones financieras de la isla con el exterior.

Overview

  • The Banco Central of Cuba said Thursday that international Visa and Mastercard services will cease in Cuba starting Saturday, June 6, after a foreign private bank told Cuban authorities on June 2 it would stop processing Fincimex transactions.
  • Cuban officials tied the interruption directly to President Donald Trump’s May 1 Executive Order No. 14404, which added Gaesa and warned foreign counterparties they could face secondary U.S. restrictions for doing business with military-linked firms.
  • Fincimex is the financial arm of Gaesa, the military-controlled conglomerate that handles large shares of Cuba’s foreign-currency operations, and the processor’s decision effectively cuts Cuba off from those international card rails.
  • Cuban authorities said cash, cards issued by Cuban banks and alternative networks such as Russia’s Mir and China’s UnionPay will still operate, but those channels may not fully replace revenue lost from Visa and Mastercard payments.
  • The suspension heightens short-term strain on tourism and remittance flows that supply hard currency to Cuba and raises questions about which foreign banks or legal steps could restore access to major payment networks.