Cuba to halt Visa and Mastercard payments from June 6

Cuba’s central bank announced that all Visa and Mastercard transactions will be suspended on 6 June after a foreign processor terminated its agreement with the island’s payment intermediary FINCIMEX. The decision follows the United States’ Executive Order 14404, signed by President Donald Trump, which expands sanctions on GAESA, the military‑linked conglomerate that owns FINCIMEX. As a result, Cuba will no longer be able to receive card payments for goods and services, a blow to tourism‑related commerce and other sectors that rely on international credit cards. The government says cash, the national Classic and Tropical cards, as well as Russia’s Mir and China’s UnionPay, will remain available for foreign‑currency transactions. The sanction wave has already prompted foreign hotels and investors to withdraw or scale back operations, underscoring the growing economic pressure on the island.