New York, January 24 (RHC) – MasterCard has announced it will begin handling U.S. credit card transactions in Cuba on March 1, making the credit card company the first to adjust to the U.S. Department of Treasury's plan to lift a ban on doing business in Cuba.

Allowing credit card transactions will make traveling in Cuba more convenient for visitors who have previously had to depend on cash.

Traveling to Cuba has been getting easier for Americans since President Barack Obama announced last month historic changes to the U.S. approach to relations with its Caribbean neighbour.

The move affects Americans who travel to Cuba to visit relatives or for a handful of other authorized purposes, including educational visits. Americans traveling for one of the 12 approved reasons no longer have to apply for a license.

General tourism to Cuba is still prohibited by the half-century old economic blockade.