"Popular is excited about this development. The ability to use these credit cards in Cuba will facilitate travel and promote the interaction between our clients in P.R. and the U.S. with the citizens of Cuba."
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Popular, Inc. (NASDAQ: BPOP) announced that it is the second financial institution in the United States (U.S.) and the first in Puerto Rico (P.R.) to enable their credit cards for use in Cuba. The MasterCard® credit cards of its two banking subsidiaries, Banco Popular de Puerto Rico (BPPR) and Popular Community Bank (PCB), can now be used at any of Cuba’s more than 11,000 authorized merchant terminals and ATMs throughout the Island.
Ignacio Alvarez, President and Chief Operating Officer of Popular stated that, “Popular is excited about this development. The ability to use these credit cards in Cuba will facilitate travel and promote the interaction between our clients in P.R. and the U.S. with the citizens of Cuba.” Before visiting Cuba, BPPR and PCB MasterCard® cardholders will need to ensure that they have an active credit card and that they are traveling under one of the 12 categories authorized by U.S. regulations, including religious and professional purposes. Customers will also be required to complete a document acknowledging that the card may only be used in connection with one of the 12 categories authorized by U.S. regulations.
For further information on obtaining or activating a credit card, BPPR customers should visit http://www.popular.com/en/mastercard-in-cuba and PCB customers should visit www.popularcommunitybank.com/mastercard-in-cuba.
NOTE: In June 2016, Pompano Beach, Florida-based Stonegate Bank became the first United States-based financial institution to issue a MasterCard (credit and debit) valid for use within the Republic of Cuba.
Established in 1994, the U.S.-Cuba Trade and Economic Council provides an efficient and sustainable educational structure in which the United States business community may access accurate, consistent, and timely information and analysis on matters and issues of interest regarding United States-Republic of Cuba commercial, economic, and political relations.