Ingenico Offering Russian Payments Processing and Settlement
Ingenico Group now offers Russian domestic payments processing and cross-border settlement for international payments. By partnering with some of Russia’s biggest acquiring banks – including Sberbank – Ingenico is able to process payments for the majority of Russian issued cards ‘On-Us’. This allows for better approval rates, improves performance and provides better insight on results. The unique solution also enables merchants to convert rubles and remit in the currency of their choice, without the risk that comes with converting a fluctuating currency internationally.
Ingenico is the first international payment service provider (PSP) to process MIR cards. Supporting Russia’s domestic card scheme is vital given that more than 49 million MIR cards have been issued since its introduction in 2015.
Merchants working with Ingenico do not have to establish a local entity to accept Visa, Mastercard or MIR cards, while being assured that personal data is being stored in compliance with local regulations.