Instant money transfer service Bankoff announced yesterday to its customers that Visa and Stripe have suspended the operation of their virtual cards.
In the message sent to customers, the company's representatives inform the decision of Visa and Stripe is motivated by the large number of active users and transactions from Russia.
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According to the company:
"Bankoff cards temporarily do not support online and offline transfers and customer funds are frozen in the US account."
Some users claim that customers who funded their accounts with cryptocurrencies are also unable to withdraw funds.
Bankoff representatives have reported they are looking for ways to solve the problem.
Russian users started opening Bankoff virtual cards to make payments abroad after Visa and Mastercard suspended their operations in Russia.