MOSCOW, Feb. 9, 2022 /PRNewswire/ -- UnionPay International ("UPI"), a leading global payment services provider, in cooperation with Sovcombank, one of the largest banks in Russia in terms of assets, signed an agreement on rolling out Halva installment cards this coming spring based on UnionPay's international payments system.
In partnership with more than 2500 institutions worldwide, UnionPay International has enabled card acceptance in 180 countries and regions. UnionPay cards also support the contactless QuickPass payment method, which will allow customers to easily and securely pay for purchases at almost any merchant in Russia.
The UnionPay-based Halva card will be of interest to travellers who frequently visit China, South-East Asia and the Middle East. For them, the card offers additional benefits: acceptance at almost all merchants in China, no need for conversion cash transactions, and discounts when paying for goods and services in shops, restaurants and hotels.
"The appearance of new cards based on the UnionPay international payment system in the Halva range of cards opens up new opportunities for our customers. The card will offer all the benefits of the Halva instalment system, as well as the privileges of the UnionPay loyalty programme. Sovcombank ATMs and terminals will start accepting UnionPay cards issued by other banks," commented Anna Kambulova, Managing Director of Sovcombank.
"We are excited to collaborate with Sovcombank to offer more payment solutions in the Russian market that both our local and global customers can benefit from," said Xia Yu, the head of UnionPay International Russia branch. "UnionPay International has been committed to providing a one-stop, valuable payment solution that encourages customers to achieve better deals in daily life. Customers in Russia will benefit enormously from UnionPay's expanding partnership network and global reach."
Both parties are planning to extend their partnership in acquiring UnionPay cards in Russia, a further step in making UnionPay products more accessible in the market.
Sovcombank is a universal bank, one of the top 10 largest banks in Russia (assets: RUB 1.9 trillion according to IFRS). The Bank has 22,600 employees in 2,629 offices located in 1,050 locations in 78 subjects of the Russian Federation. The Bank serves 12.1 million clients: 11.3 million borrowers, 0.6 million depositors and 0.2 million legal entities. The Bank's credit ratings are on an international scale: S&P - "BB", Outlook "Positive", Moody's - "Ba1", Outlook "Stable", Fitch - "BB+", Outlook "Stable". The Bank's credit ratings on the national scale: ACRA - "AA-", outlook "stable", Expert RA - "ruAA", outlook "stable", NCR - "AA-", outlook "positive".
UnionPay is an international payment system founded in 2002. UnionPay International is focused on the growth and support of UnionPay's global business. Now UnionPay payment acceptance network has expanded to 180 countries and regions, and more than 70 countries and regions have issued UnionPay cards. In Russia, UnionPay cards are accepted at over 95% of POS terminals and ATMs. Over 1.6 million POS terminals accept UnionPay cards with QuickPass contactless payment technology, and over 3 million UnionPay cards have been issued in Russia.
Related link: http://www.unionpayintl.com/ru/
SOURCE UnionPay International