Visa and Mastercard to Halt Cuba Operations on June 6 Following Trump's Executive Order 14404

According to Cuba's Central Bank announcement on Wednesday, Visa and Mastercard will halt payment processing services in Cuba effective June 6, 2026. The move follows Executive Order 14404 issued by President Trump on May 1, which expanded U.S. sanctions on Cuba. A foreign bank processing these transactions notified the Cuban central bank it would terminate its commercial relationship with Fincimex, a payment intermediary, citing the executive order's requirements under the Office of Foreign Assets Control (OFAC).

The halt primarily impacts tourists, who must now rely on alternative payment methods including Mir Cards, UnionPay, and national prepaid cards. Cuba's central bank stated the measure prevents the country from receiving income from international card transactions.