Visa Russia changed its name from Visa International Consolidated Support Services LLC to Visa LLC. This follows from the data of the SPARK-Interfax reference and analytical system for companies, which Izvestia got acquainted with on Thursday, June 2.
A subsidiary of Visa has been registered in Russia since November 2009. It is 99% owned by Visa International Service Association and 1% owned by Visa International Holdings LLC. Both companies are registered in the USA. On April 11, the Russian division amended the founding documents, changing its name from Visa International Consolidated Support Services LLC to Visa LLC.
Mikhail Berner has been the CEO of the Russian legal entity since November 2019. The activities of the company have not changed recently. The main one is advising on commercial activities and management, follows from the SPARK data. Others include activities related to the use of computers and information technology, activities in the field of law and advertising agencies, as well as market research.
According to SPARK, the parent company Visa Inc. (registered in the US) owns the Visa International Services Association and Visa International Holdings. The first, in turn, owns the Russian Visa LLC and the Ukrainian Visa Ukraine. The second is Visa Europe Limited.
In March 2022, Visa, like Mastercard, announced its withdrawal from Russia and the termination of work with national banks. Inside the country, cards of international payment systems continue to operate, transactions go through the national system of payment cards. However, transactions are not made abroad, in foreign online stores, as well as through Apple Pay and Google Pay.
Read more in the exclusive Izvestia article:
“We made a“ Visa ”: the division of the payment system in the Russian Federation changed its name”
