The bank is changing the payment system and asking clients to replace their cards.
Monobank refuses to cooperate with the Mastercard payment system and asks its clients to replace their cards with those supporting the Visa system by the end of this year.
This was reported by the publication “Technofan”.
Some holders of MasterCard cards will receive a notification about the need to replace their cards.
The bank's support service confirmed that the information about the termination of cooperation with Mastercard is reliable. The company explained that the change was due to the fact that the interbank commission decreased from 1.6% to 0.7%, while the income tax increased from 18% to 50%. At the same time, VISA offers the company more favorable terms of cooperation for the next five years.
By the beginning of 2025, Mastercard cards will be deactivated. Monobank offers some clients to switch to VISA, but this does not apply to holders of premium cards. A cash compensation of 100 hryvnia will be charged for reissuing a black card.
The company added that all funds will be transferred automatically to the new account.
As reported, The NBU will begin replacing old-style 50 and 200 hryvnia banknotes. Citizens do not need to exchange them specially.
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