The license of Visa International Payment System principal member will make it possible for VTB Bank (Kazakhstan) to make direct mutual settlements with Visa and it grants the right to sponsor and perform processing for other Kazakhstan second-tier banks.
Owing to receipt of Visa principal member license, VTB Bank Kazakhstan Subsidiary acquires independency when launching new card products and services.
The principal member’s status gives to the Bank the possibility to develop trade acquiring: to install own POS-terminals in the stores and service points.
From the beginning of work in the field of development of non-cash payments on cards, VTB Bank (Kazakhstan) has been taking active part in marketing campaigns held by Visa and regularly implements new services for payment cards holders.
Rosa Imangaliyeva, Head for the Bank Card Department of VTB Bank (Kazakhstan) JSC SO:
“This moment is very important in the history of our Bank’s work with payment cards. At present over 10 000 people are the owners of payment cards issued by our Bank. VTB Group global bank machines network is one of the most developed in the CIS countries and in Georgia. By the end of this year we plan to increase the quantity of cards by 50% and offer credit cards to our clients”.
For reference:
VTB Subsidiary Bank in Kazakhstan started its activity in 2009 is being developed very quickly, demonstrating exceedence of business-plan forecasting indexes.
There are 23 bank machines and 42 POS-terminals in the Bank’s acquiring devices network which cover 17 largest cities of Kazakhstan.
VTB Bank and its subsidiaries form international financial group carrying out its activity at Russian and foreign markets. VTB Group is represented by more than 20 banks and financial companies in 19 countries of CIS, Europe, Asia and Africa. The major shareholder of VTB is the government of Russian Federation (75,5%).