US sanctions interrupt Visa, Mastercard payments in Cuba — central bank

HAVANA, Cuba — Cuba’s central bank announced Wednesday that all Visa and Mastercard payment operations across the island will be halted this weekend, after sweeping United States economic sanctions pushed a key international processing bank to cut off its business relationship with a Cuban state-affiliated financial entity. In an official public statement, the central bank confirmed that it received formal notification of the exit on June 2. The processing bank, which has overseen all Visa and Mastercard card-based transactions within Cuba’s borders, said it would end its contractual agreement with Fincimex SA, the entity designated to manage these international card payments for the Cuban government. Fincimex operates as the financial subsidiary of GAESA, a large military-led conglomerate that has long been targeted by US economic sanctions imposed on Cuba. This development marks another significant disruption to Cuba’s access to global financial networks, exacerbating existing economic pressures that have limited the country’s ability to facilitate international commerce and serve foreign visitors who rely on global card payments during their stay. The suspension comes as US sanctions on Cuban entities remain in place, with little indication of near-term adjustments to the long-standing restrictive trade and financial policy. Cuban financial officials have not yet announced an alternative workaround for processing international card payments, leaving many in the tourism and commercial sectors bracing for new disruptions.