WASHINGTON — MasterCard on Friday became the first major credit card company to say it will start handling U.S. card transactions in Cuba.
Citing new guidance from the U.S. Department of Treasury, MasterCard said it would begin processing swipes by U.S. card holders in Cuba beginning March 1.
The announcement comes one month after President Barack Obama said the U.S. would work to restore normal diplomatic relations for the first time in more than 50 years with the island. The move affects Americans who travel to Cuba to visit relatives or for a handful of other authorized purposes, including educational visits.
New regulations announced this month lifted a ban on U.S. banks and credit card companies from doing business in Cuba. MasterCard
said cardholders should contact their bank before visiting Cuba.
