Useful links:
Intl News | Intl Press Releases | sQuid schemes - Intl

eMoney News

Ingenico brings contactless payment terminals to Russia
6 Jul 2012

Russia moved a step closer to becoming a cashless society after an announcement that contactless payment technology manufacturer Ingenico is to begin manufacturing and distributing its point of sale (POS) devices in the country.

The announcement follows a detailed study of the Russian market, during which Ingenico ascertained that the country was ready for a contactless revolution.

It is now set to produce up to half a million of its Telium 2 POS units at a factory in the Tver region, with Russian manufacturing also offering the company certain economic benefits.

"The beliefs in Russia, the Russian market and in its development have led to the decision to start production, preparation and manufacturing of POS-terminals in Russia," explained Pavel Aleksandrov, the managing director of Ingenico in the country.

Philip Kostemal, the chief executive officer at Jabil Russia, whose factory will be responsible for making the near field communication terminals, said that financial support from the Russian government to encourage foreign manufacturing helped incentivise the decision.

Ingenico was recently selected by the Post Office in the UK to provide its POS devices for a nationwide roll-out of contactless payment technology across its 11,000 branches.