Visa and Mastercard Will Stop Processing International Cards in Cuba

Overview

• The Banco Central de Cuba announced that international Visa and Mastercard services will stop working in Cuba on June 6, 2026 because a foreign private bank halted processing for Fincimex to avoid U.S. penalties.
• Fincimex is the payments arm of GAESA, the military-run conglomerate targeted by Executive Order No. 14404, which the U.S. State Department said would bring sanctions on partners that do business with GAESA.
• Cuban authorities said the island will still accept cash, cards issued by Cuban banks, and foreign networks Mir and UnionPay, but warned that the cut will block receipts from foreign-issued Visa and Mastercard cards and reduce hard-currency income.
• Companies and foreign partners are already reacting: Canada-linked Sherritt withdrew from MoaNickel and media reported Spanish hotel group Meliá is trimming operations, showing commercial and reputational pressure on firms that deal with GAESA.
• The move highlights how U.S. sanctions can reach global payment infrastructure and poses immediate risks to Cuba’s tourism sector and businesses that rely on tourist and foreign-card spending.