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Jun 01, 2017

Federal Passenger Company, Mastercard and VTB24 sign cooperation agreement

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The Federal Passenger Company, Mastercard and VTB24 have signed a cooperation agreement in the framework of the XXI St. Petersburg International Economic Forum.

The document was signed by Peter Ivanov, Managing Director of JSC Federal Passenger Company, a subsidiary of Russian Railways, Alexey Malinovsky, Head of Mastercard in Russia, Kazakhstan, Belarus and Armenia, and Mikhail Zadornov, President and Chairman of the Board of VTB24 on 1 June 2017.

The agreement provides for the integration of modern technological solutions into the passenger service system for long-distance trains.

The parties agreed that the first step in this direction will be to consider the possibility of introducing an innovative method of paying for tickets through the Masterpass platform at http://pass.rzd.ru/main-pass/public/en and the mobile application "Train Tickets."

Masterpass is Mastercard's global platform for e-wallets and online stores that simplifies and speeds up the buying process with any device connected to the Internet. In order to pay for train tickets with a bank card, it will be sufficient for passengers to specify their bank card data and phone number just once in the system. It will not be necessary to re-enter the details when making further subsequent purchases. To carry out a transaction, users of the site or mobile application will just need to click the button "Masterpass payment".

All information in the system will be stored using a multi-level security system. Since Masterpass is an open platform, passengers can pay not only with Mastercard cards, but also with bank cards from other international payment systems.

JSC Federal Passenger Company will become the first transport company in Russia to launch this service for its customers.

The acquirer for accepting bank cards will be VTB24, which has been providing support for the ticketing service on the Russian Railways website for several years, as well as at the railway ticket offices.

Acquisitions for this type of operations are increasing by 30% annually.

Mastercard is a technology company operating in the global payment industry. Mastercard manages the world's fastest payment processing network, which connects consumers, financial institutions, trade organisations, government and business structures in more than 210 countries and territories.

Mastercard's products and solutions facilitate the resolution of everyday problems more easily, safely and efficiently, for example making purchases, travelling, conducting business and managing finances.

VTB24 is one of the largest participants on the Russian banking services market and is part of VTB's international financial group. It specialises in servicing individuals, individual entrepreneurs and small businesses. VTB24's network consists of 1,086 offices in 75 Russian regions.

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