Visa and Mastercard transactions in Cuba will stop from June 6 after a foreign bank ended its payment-processing link with Fincimex, according to the Central Bank of Cuba. Cuba tied the interruption to expanded US sanctions under Executive Order 14404. Reuters reported that the suspension affects international card payments processed through Fincimex, a company linked to GAESA.
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The Central Bank of Cuba said a foreign bank told Fincimex it would end the commercial relationship that allowed Visa and Mastercard transactions on the island.
Cuba said the decision followed Executive Order 14404, signed by US President Donald Trump on May 1. The order expanded sanctions risk for foreign banks and non-Cuban companies that support blocked Cuban entities.
That change means Cuba can no longer receive some payments from goods and services bought through international Visa and Mastercard cards. The impact will fall most directly on tourists, who may have to use other payment options during trips.
Fincimex has been under US pressure for years. OFAC identified the company in 2020 as linked to the Cuban military-run GAESA network.
Other payment options, including national prepaid cards, Mir cards, and UnionPay cards, are expected to keep working.