Since 2015 when the domestic card scheme was introduced, about 45 million MIR cards have already been issued, with more than half issued by Sberbank. The partnership between the two companies will help Ingenico to extend its network of global acquiring banks with Sberbank as a local partner in Russia. Thus, millions of MIR cardholders will be able to use their cards to shop with the well-known international brands that use Ingenico to process their payments.
International online merchants can now accept MIR card payments for the first time, providing them with access to a rapidly growing market. By using a local acquirer, merchants will be able to increase authorisation rates. Also, since Sberbank uses data centres in Moscow and Kazan, Ingenico’s merchants are automatically compliant with Russia’s data storage regulations.
Ingenico and Sberbank are aiming to expand the partnership to include additional features, such as support for Sberbank Online, its real-time banking solution, and an opportunity for international merchants to participate in the loyalty program Spasibo to establish connections with Russian consumers.
To find out more about in terms of Ingenicos services and offering, please visit our dedicated online payments company database.
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