MasterCard to Lift Transaction Block on U.S. Cards in Cuba

By Elizabeth Dexheimer and Indira A.R. Lakshmanan

January 23, 2015 at 4:42 PM UTC

Updated on

January 23, 2015 at 6:08 PM UTC

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MasterCard Inc. said it will lift a block on U.S. bank-card transactions in Cuba after receiving guidance from the Treasury Department’s Office of Foreign Assets Control.

The change takes effect March 1, according to a bulletin the Purchase, New York-based company sent to banks and other customers and obtained by Bloomberg News. Seth Eisen, a MasterCard spokesman, confirmed the bulletin’s contents.