PayiQ Expands to Russia

PayiQ Expands to Russia

The Finnish Smart Mobility FinTech company PayiQ is continuing its rapid internationalization. The company has opened a new office in Moscow.

Earlier this year PayiQ announced the starting of co-operation with MF Tarif, Russia’s leading manufacturer of transport and communication equipment. Integrating cloud-based mobile ticketing and payment solution with robust hardware infrastructure opens up unforeseen possibilities to combine different services and create new kinds of service concepts. With the tightening of co-operation and opening up of the financial sector PayiQ has established a subsidiary in Moscow. Things are moving fast with the new PayiQ Russia. First customer contracts have been signed and co-operation with new operatives is already under way.

“We are progressing according to our internationalization plan in co-operation with Team Finland. Last year we opened offices in Europe and North Africa. Now it’s Russia’s turn. Local offices help us support our customers and partners in the best possible way.” says Tuomo Parjanen, the CEO of PayiQ. “Our awarded third generation PayiQ® technology enables all the most common digital payment methods and the combination of almost any kind of tickets, travel modes and other services. Our strong fraud prevention and real-time validation of user and ticket are the most effective in the market today.”

Mobility as a Service (MaaS) is an internationally growing megatrend in the digitalization of transport. It means that users are able to easily combine different mobility modes and services with the help of new technologies. Finland is the forerunner of this trend. PayiQ is the first domestic company to develop a mobile payment solution based on this new business model. The solution meets the needs that digitalization, shared economy and flexible mobility services pose to payment and ticketing services.

Company’s solutions are already in use in several Finnish cities and more cities are joining in. The new PayiQ Tickets application complements applications provided by cities and MaaS operators by offering its clients all the same products and services as the local applications, plus combination tickets that span throughout the whole travel chain.

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