Select your city:
Moscow

VTB Bank call center

+7 (800) 200-77-99
+7 (495) 739-77-99
For general information and enquiries

VTB Bank launches cards based on MasterCard PayPass payment technology

 
17 July 2013

Starting in July 2013, customers can use cards based on the innovative MasterCard PayPass contactless payment technology at The Seventh Continent stores in Moscow. 

This is a cooperative project between VTB Bank, MasterCard and The Seventh Continent retail chain. 

VTB Bank acts as the acquiring bank in the project. 

The Seventh Continent has 141 stores to date. 

MasterCard PayPass is an innovative payment technology whereby a payment card or other payment device is tapped on a point-of-sale terminal reader rather than swiped or inserted. 

MasterCard PayPass cards have a radio frequency identification (RFID) chip and an antenna for connecting to the bank, with the transaction confirmed almost immediately. Clients will no longer have to let go of their cards, which will increase payment safety and seriously reduce shopping time.

"MasterCard PayPass is a promising technology that already enjoys considerable demand and will enable VTB to ensure high client service standards and to attract new large chain players that want to increase client servicing speed," said Gurinder Nihal, head of VTB Global Transaction Banking.

PayPass is ideal for rapid payment and service at malls, restaurants, transport zones, movie theatres, petrol stations, parking lots, and sport grounds, and also for vending machines.

For reference:

MasterCard PayPass products are issued by over 200 banks around the world. Nearly 700,000 retail outlets in 51 countries accept payment by PayPass technology. Over 100 types of equipment have been certified for use of the MasterCard PayPass technology, which was created in 2002.

The first PayPass transaction was conducted in Russia in 2008. In 2012, Russian mobile operator MTS and MasterCard offered a PayPass application for NFC-compatible phones. For details about MasterCard PayPass contactless payment technology and a list of outlets in Russia and around the world where MasterCard PayPass is accepted, please visit MasterCard’s website.

Tags:
VTB Bank

Back to the list



VTB group news subscribe
  • E-mail subscribe
  • RSS lent
    Subscribe
    Subscribe
Download the list of cities.....