PayiQ has signed a major partnership agreement with Sberbank, Russia’s oldest and largest bank. Sberbank will act as PayiQ’s acquirer and Payment Service Provider in Russia.
PayiQ continues its systematic efforts to expand its business in Russia. To accommodate this expansion, PayiQ has signed a significant agreement with Sberbank, Moscow Branch. Sberbank is the biggest Russian bank, handling about a half of banking transactions in Russia and it is one of the top the banks in the whole Europe. PayiQ’s ticketing solutions are already in use in Moscow and St. Petersburg and new contracts are in the pipeline.
“We are glad to have the Finnish company PayiQ as our client and happy to provide it with a welcome rate in acquiring for comfortable switch from a previous provider”, said Alexey Makarov, Project Director of Moscow Branch of Sberbank Russia. “In the medium run prospective we would be interested to consider PayiQ as Sberbank’s Technology Partner for fare solutions in transport. Right now, we are merging our efforts in making a common project in the South of Russia” added Mr. Makarov.
“We are very happy to have Sberbank as our acquirer and Payment Service Provider in Russia. Our cooperation has already led to good results in our recent activities in St. Petersburg. This partnership allows us to concentrate on developing our technology and services. Our cloud-based technology is easy and cost-effective to deploy, safe to use and offers versatile ticketing options for various service providers. Russia has huge market potential and we’re convinced that this partnership will further strengthen our growth in Russia” tells Tuomo Parjanen, PayiQ’s CEO.