Home News & events Press Releases 2013 Moscow Industrial Bank joins Universal Electronic Card with support from Compass Plus

 

Moscow Industrial Bank joins Universal Electronic Card with support from Compass Plus

Logo MInB engWith help from Compass Plus, Moscow Industrial Bank (MInB) has been successfully certified with the Unified Payment System “Universal Electronic Card” (UPS UEC). The bank has started issuing the Universal Electronic Cards based on TranzWare products.

The UEC provides Russian citizens with access to government, municipal and commercial services in an electronic format and combines the functions of an identity card with a payment card, allowing the cardholder to use it as a personal ID in electronic environments as well as to make payments. The card also contains a banking application which enables the bank’s customers to use it not only as a UEC but as a standard bank card in order to perform financial operations at ATMs and retail outlets. The TranzWare products enable the generation of EMV data for the banking application on the UEC as well as provide transactional and clearing interaction with the UEC’s processing center when performing financial operations using the card’s application.

Moscow Industrial Bank has been a member of UPS UEC since 2011, having joined the system as an issuing and acquiring bank. Around 2,000 Russian citizens have applied for the Universal Electronic Card with the bank’s application on it to date.

About Moscow Industrial Bank:

Moscow Industrial Bank (MInB) provides comprehensive financial services for enterprises acting in all economic industries as well as local government authorities and to the general public. The bank is amongst the 30 largest Russian banks and has a network of 270 branches located across 29 regions of the Russian Federation - from the North Caucasus to Arkhangelsk. The bank is a principal member of the major international payment systems Mastercard International and Visa International. The bank has issued approximately one million active cards, installed a network of over 2,000 ATMs and provides services to several thousand trade and service enterprises. MInB is at the forefront of innovative card products and develops new products with enhanced security and cutting-edge technology as a business priority.
www.minbank.ru

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