18 October 2016
Compass Plus helps VTB24 and MultiCarta become partners of Samsung Pay in Russia
On 29 September 2016, Samsung announced the commencement of the Samsung Pay payment service in Russia. VTB24 has become the first partner of this service, powered by MultiCarta processing services and supported by Compass Plus.
This project saw the implementation of the Mastercard Digital Enablement Service (MDES) with MultiCarta’s processing system. MDES provides safe cardholder data storage and transmission and allows users to pay for goods and services via an NFC-enabled smartphone instead of a payment card. The testing of a cloud-based Visa Token Service, which will enable customers to use their Visa cards to make mobile payments, is currently being completed.
Kirill Sviridenko, CEO at MultiCarta, said: “The mobile phone is no longer considered only a means of communication. Today, electronic gadgets can act as payment devices, allowing customers to pay for various goods and services, and payments via mobile phones are very popular throughout the world. I am sure that the owners of smartphones in Russia will appreciate this opportunity to pay in a new, convenient way.”
Actively developed by Visa and Mastercard, cloud tokenisation is a unified service which provides support for various mobile payment systems based on common standards. The service aims to expand the list of mobile platforms and services that can be used to make payments.
“MultiCarta always undertakes the most ambitious and innovative projects. We are glad to see our partner paying a great deal of attention to mobile payments – one of the main trends in the payments industry today. From our side, we will continue to support MultiCarta in its most innovative initiatives,” said Alexey Osipov, EVP at Compass Plus.
With more than 20 years in processing services, MultiCarta is one of the largest processors in the Russian Federation. Today MultiCarta, a subsidiary of VTB Group, processes for 60 banks in Russia and CIS, including VTB24 - one of the largest retail banks. The terminal network of MultiCarta has over 14,000 self-service devices and more than 40,000 POS terminals. During 2015, MultiCarta processed over 1 billion transactions.