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MasterCard stops servicing Guta Bank cards

      RBC, 08.07.2004, Moscow 19:31:32.MasterCard has stopped servicing credit cards issued by Creditrustbank and Paveletsky bank (affiliated members), as well as Guta Bank (a principal member). Like other international payment systems, MasterCard is concerned about the recent developments on the Russian market and is going to enhance the integrity of its system of payments. However, taking into account certain restrictions, MasterCard guarantees meeting its obligations towards its principal and associated members. Thus, if an issuer cannot meet its obligations with respect of MasterCard transactions, the MasterCard system guarantees payments to acquirers.

      It is worth mentioning that the Visa International payment system has earlier stopped servicing credit cards issued by Guta Bank.

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