Payeer review: Payment service to shut down after new sanctions
Digital payment service Payeer has announced it will cease operations, citing the impact of international sanctions that have made it impossible for the company to continue functioning. The decision follows the introduction of the 19th package of sanctions, which came into effect on October 23, 2025, and directly affected Payeer’s ability to work with key global partners.
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In a notice published on its official website, Payeer stated that compliance requirements imposed on international companies led multiple partners to block Payeer accounts, in some cases affecting user assets held through those partners. As a result, the company said it could no longer maintain normal operations.
Sanctions pressure forces closure
Payeer said the sanctions environment created systemic disruptions across its infrastructure.
“Since all global companies are required to comply with sanctions, we have had problems with key partners,” the company noted, adding that account freezes and service interruptions made continued activity unviable.
Founded in 2012, Payeer operated for more than a decade, offering users international payment services and digital wallet functionality. However, the company acknowledged that operating under sanctions is no longer possible, marking a decisive end to its business.
User funds and withdrawal timeline
• Payeer has urged users to withdraw their funds before January 5, 2026. Until that date, withdrawals remain available through standard channels.
• After January 5, 2026, withdrawals available through Support Service only.
Payeer built its platform around cross-border payments, electronic wallets, and digital asset services, serving users across multiple regions for over a decade. The shutdown underscores how expanding sanctions regimes continue to reshape the global payments landscape, particularly for platforms operating across jurisdictions.
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