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Svyaznoy Bank deploys first large scale prepaid card offer in Russia

Svyaznoy Bank has decided to deploy the first large scale prepaid card offer for its customers in Russia in collaboration with Gemalto.

Certified by MasterCard and Visa, Gemalto’s prepaid card technology also features strict security measures including tamper evident seals and has the capability to apply unique serial numbers and barcodes on the package, claims Gemalto.

Its secure personalization center offers a certified electromagnetic compatibility (EMV) environment that completely meets the major intercontinental payment schemes.

The card is linked with MasterCard and Visa and can be processed anywhere that accepts these payment applications.

With the induction of latest technology, the lender is planning to distribute the prepaid card through its network of 35 branches as well as various other sales channels.

In collaboration with Svyaznoy Group, the bank will also be positioned to provide services at over 3,000 points-of-sale (POS) based in Svyaznoy mobile communication centers in the country.

Gemalto senior vice president Jean-Paul Ternisien said, "Prepaid solutions clearly encourage the unbanked to use card-based payments, and this new service will support Svyaznoy Bank in sustaining high growth."