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VTB acts as merchant acquirer in innovative Visa payWave project

 
4 July 2012

© RIA Novosti, Mikhail Fomichev

VTB Bank has partnered with Visa International and the Seventh Continent supermarket chain to launch the Visa payWave payment system in the retailer’s stores.

Seventh Continent’s flagship supermarket in the Lubyanka district of Moscow is the first Russian outlet to offer payWave contactless payments. It is anticipated that by September Visa payWave cards will be accepted in 156 Seventh Continent supermarkets in the Moscow region.

Visa payWave is an innovative contactless payment technology that significantly speeds up customer service. Customers make payments by holding a standard credit or debit card in front of a special contactless card reader, without having to give their signature or enter a PIN.

 
 
 
 
«We are delighted to be involved in this project, which is very innovative for Russia ».
Gurinder Nihal,
Head of Global Transaction Banking at VTB

Gurinder Nihal, Head of Global Transaction Banking at VTB, said: “We are delighted to be involved in this project, which is very innovative for Russia. VTB has always supported the development of cutting-edge banking technology, including for the retail trade, and intends to continue its fruitful work with Visa and Seventh Continent”.

VTB Group’s processing company MultiCarta Ltd provided engineering support for the project, including certification of the payment system, cash integration and testing. 


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