VeriFone Holdings (NYSE: PAY) today announced a multimillion-dollar order for a portfolio of its leading payment solutions by Sberbank, Russia's largest bank.
VeriFone was the leading vendor selected by Sberbank, which ultimately intends to distribute approximately 130,000 payment solutions among merchants. The bank will utilize VeriFone countertop and wireless payment solutions, as well as PIN pads. Sberbank will deploy the Vx 510 dial, Ethernet and GPRS countertop solution, the Vx 610 wireless system, the Vx 810 programmable PIN pad and the PP1000SE PIN pad.
VeriFone solutions were selected for a separate tender from Sberbank for more than 16,000 Vx 810 systems. Those systems were deployed over a three-month period to bank branches for customers to identify themselves to bank tellers using their credit/debit card and PINs.
"VeriFone's strategic partnership with INPAS Company has proven to be a strong payment solution for major organizations, such as Sberbank, in Russia, the Commonwealth of Independent States and Hungary," said Adam Biedrzycki, general manager, VeriFone Continental Europe. "We triumphed over major competitors to solidify our relationship with the largest, most dynamic bank of Russia and Eastern Europe."
INPAS Company has been a VeriFone International Partner for the region since 1995. It has worked with VeriFone to supply payment solutions for a number of nationwide projects.
"Sberbank is a priority customer and this tender represents a major win that highlights the great strides made by INPAS in the market and the reputation and trust that INPAS and VeriFone have been able to achieve together as providers of innovative solutions," said Ilya Korobov, Commercial Director of INPAS.
Sberbank today is the largest credit institution in Russia and CIS, accounting for about a quarter of the aggregate Russian banking assets and a third of banking capital. Sberbank was ranked 38th in the world by The Banker magazine in terms of Tier 1 capital as of July 1, 2009.