PayiQ and Social Systems Sign a Partnership Agreement for Russian and European Markets

The Finnish Smart Mobility FinTech company PayiQ and Social Systems, a leading Russian manufacturer of automation technology, are joining forces to provide cutting edge ticket validation. The new integrated solutions for transportation operators significantly strengthen the position of both companies in the rapidly growing markets.

Social Systems is an acknowledged developer and provider of various automation software and technology for the transport industry. Among other products and services Social Systems develops and produces payment control systems for transportation. PayiQ’s and Social Systems’ cooperation comprises the integration of PayiQ’s ticket validation solution to Social Systems’ ticket readers.

“There’s demand for reliable and simple ticket readers that are fast to deply and easy to use for customers. By combining our efficient devices and PayiQ’s innovative software our customers will get the best payment control system in the markets.” says Pavel Bolshakov, the CTO of Social Systems.

“We are very excited about this cooperation. Social Systems’ knowledge of local markets, high-tech equipment and great services are an important asset to us. Working together will open up great opprtunities for both companies. For us this partnership is yet another step in our expansion to Russian and European markets.” says PayiQ’s CEO Tuomo Parjanen.

PayiQ opened offices in Russia last year and was awarded for its innovative solution early this year.


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