19 January 2016
VTB Bank offers export-import companies an opportunity to use its PAYHD customs card for the remote payment of customs duties during cargo clearance. GAZ Group was one of the first clients to use the advantages offered by the card.
GAZ Group is Russia’s largest producer of commercial vehicles and part of the Basic Element, a diversified industrials group. GAZ uses the PAYHD customs card to streamline and facilitate the clearing of its export and import operations, reduce expenses, tighten control over the transfer of payments to customs agencies, simplify customs payments, accelerate the transfer of funds and facilitate customs clearance.
“GAZ Group’s experience of using our PAYHD card, for two years, has reaffirmed the high technological standards and the safety of this method of making customs payments. We have created quick and straightforward conditions for our clients by offering this valuable transaction banking product
, which allows companies’ treasury departments to achieve their key tasks more effectively,” said Senior Vice President Gurinder Nihal, head of VTB Global Transaction Banking.
MultiService Payment System LLC was registered by the Bank of Russia under the federal law to the National Payments System on 20 December 2012 (Registration Certificate No. 0022) and is a customs payments operator under Order No. 1860 of the Federal Customs Service dated 1 October 2013. The company’s main product is the PAYHD card. More information at: www.payhd.ru
GAZ Group (www.gazgroup.ru
) is Russia’s largest producer of commercial vehicles, including light and medium duty LCVs, buses, heavy duty trucks, cars, power units and auto parts. Its largest shareholder is the Russian Machines Corporation, which is part of Basic Element, a diversified industrials group.
GAZ Group is headquartered in Nizhny Novgorod and has 13 plants in eight Russian regions and holds over 50 percent of the LCV market and c. 75 percent of the bus market. Its latest product is the GAZelle NEXT panel van. GAZ is the leading Russian producer of low-impact vehicles, including those based on alternative fuel.
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