Russian Svyaznoy Bank has contracted Dutch digital security company Gemalto to provide the security services for the launch of its prepaid card.
As part of the deal, Gemalto will design and produce the card, providing the certified EMV that complies with major payment schemes.
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The bank is partnered with the Svyaznoy Group, Russia’s second largest mobile phone retailer. It will be the first large scale prepaid card of the bank and it will be distributed using the Svyaznoy Bank’s 35 branches in large cities, as well as 3,000 points-of-sale in Svyaznoy mobile communications centres.
Evgeniy Davidovich, deputy to the chief executive of Svyaznoy Bank said: "Gemalto has the wide-ranging capability necessary to respond quickly to Svyaznoy Bank’s requirements for large scale deployment. As Svyaznoy Bank grows quickly across Russia, we need a partner with the product breadth and high level of service to ensure that our new prepaid cards strengthen customer loyalty, attract new business and raise awareness of our company."
In an interview with the Daily Telegraph in July of last year founder and chief executive Maxim Nogotkov who is stated that the bank is aiming to become the number one debit and credit card provider in Russia.
Svyaznoy Bank was established in conjunction with of Promtorgbank which was founded in 1992. In 2010 Svyaznoy Group of Companies and Promtorgbank entered into the strategic partnership with the aim to establish a large full-service bank.
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