Visa and MasterCard are preparing to introduce Apple Pay in Russia

The General Director of Visa in Russia Catherine Petelin told the newspaper Vedomosti that the company with the National payment card system (NPCs) working on the implementation of the service , which will bring payment services to Apple Pay, Samsung Pay, and Android Pay contactless payment for purchases using smartphones. According to Petelino, the basis of all these apps, there is one service ā€” tokenization.

The essence of this technology lies in the fact that the service tokenization replaces the card number in a “reference” number, the token, which allows you to carry out the transaction. The token does not contain information about the card, its owner, and the account balance, so even if an attacker gets hold of this link, they will not be able to use it to commit fraud.

To run payment services in Russia, prepares and MasterCard. “Together with our partners, with the NPCs we are actively involved in the development of payments innovations in Russia, to cardholders and MasterCard customers can enjoy safe and convenient cashless payments, as well as our technology, including tokenization, which is one of the leading global trends related to the security of cashless payments”,ā€” said the representative of the company.

Previously CEO of nvqs Vladimir Komlev has declared that till the end of the year, the Russian system “the World” plans to launch its own mobile payment service.

That payment system Apple Pay can earn in Russia until the end of this year, it became known in April. Presumably, the Russian subsidiary of the IT giant is already in talks with major credit institutions on the implementation of its contactless payment technology. Among them ā€” Sberbank, VTB24, Raiffeisenbank, Alfa Bank.

See also:

  • How to set up and use Apple Pay in Russia
Clifton Nichols

Clifton Nichols

Hi! Iā€™m Clifton and I am a full-stack engineer with a passion for building performant and scalable applications that are beautiful and easy to use.

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