Ingenico (Euronext: FR0000125346 - ING), leading worldwide provider of payment solutions announced that the retail chain "Sedmoy Continent" ("The Seventh Continent") in the Russian Federation is now able to accept VISA payWave cards thanks to its Ingenico terminals.
This project was implemented in partnership with VTB Bank, with the technical support - including payment system certification, integration of the ECR solution and testing - of "MultiCarta", a processing company within the VTB Group. The first supermarket to accept payWave contactless payments in Russia was the flagship store "Seventh Continent" in Lubyanka (Moscow). By September 2012, the entire network of "The Seventh Continent", numbering 156 stores, will be able to accept VISA payWave contactless payments.
Visa payWave contactless technology allows checkout times to be considerably reduced when compared to cash or magnetic stripe card payments. The customer does not need to present a card to the cashier and for a sum of less than 1,000 rubles (circa 25€), the transactions do not require any authentication, i.e the traditional cardholder's signature or PIN code entry.
Ingenico's solution is based on an iPP320 terminal with an embarked contactless module. Among the distinctive features of this model, is its increased robustness (one million clicks on every key, smart card reader with guaranteed 500,000 inserts), a clear and intuitive interface, a LED indication for card readers, multi-connector, and the contactless-ready form-factor. It allows PIN Pad upgrades in full contactless mode by installing a simple plug-in module, taking only a few seconds.
Pavel Alexandrov, Managing Director,Ingenico Russia, commented: "Ingenico has consistently introduced innovative payment technologies, thereby making the daily lives of Russian citizens more convenient and secured. Contactless payment saves time and accelerates the turnover of retail networks"
Alexander Volchik, Director of the acquiring department, Bank VTB, added: "The Visa payWave technology is promising and relevant, which will further allow VTB Bank to provide a high level of services for existing customers and prospects".
A significant part of the payments in supermrmarkets does not exceed 200 rubles. For this price range, contactless technology is particularly relevant and saves massive time in a secure way. ", said Sergey Kluchenko, Marketing Director of the "Seventh Continent".