More Than One Million Visa Moscow Social Cards Issued in Russia

Saturday 22 November 2003 09:26 CET | News

More than one million Visa multi-application smart cards have been issued as part of the Moscow Social Card program.

The program brings a wide variety of innovative card benefits to Visa cardholders in Russia?s capital. Launched in July 2002, it provides Moscow residents who receive social benefits ? students, pensioners, members of the armed forces, public employees and others ? with a smart card carrying personal identity and benefits details, along with a Visa payment application. The multi-application card currently includes metro ticketing, health and medical insurance details, as well as access to government subsidies and discounts in specified retail stores. The Social card can be used at 45,800 Visa Electron acceptance locations across Russia as well as at more than 12 million merchant locations with electronic point-of-sale devices worldwide. Visa is the leading payment system in Russia with more than 6.1 million Visa cards generating more than $9.6 billion per annum in sales volume. As part of the program, Visa ? together with Bank of Moscow and Rosan Finance ? are piloting the latest smart card technology, including dual interface cards and dynamic data authentication (DDA). This is the first use of a dual interface card in Russia and the first implementation within Visa?s CEMEA region. The dual interface cards will provide Russia with the most leading edge technology providing more secure and cost efficient transactions. Also included in the pilot is the utilization of Dynamic Data Authentication (DDA), which provides the most secure method of card authentication available today. By the end of the year, up to 20,000 cards will have been issued with the plan to move towards a commercial rollout next year.

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Categories: Payments & Commerce | Cards
Countries: World
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Payments & Commerce