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City news, 26.01.2005 13:21

Russky Standard Bank News

Russky Standard Bank News Russky Standard bank will replace all its domestic credit cards with the internationally accepted MasterCard Electronic system from next year, Kommersant reported last week.

All of the bank's credit cards, currently numbering 1.8 million, will transfer to the international system in what promises to be the largest credit card project in Russia, the bank's senior vice-president Georgy Gorshkov said.

"MasterCard Electronic is a basic level credit card that is specially tailored to banks practicing consumer credit," Andrei Korolyov said, head of MasterCard in Russia.

The move, by promising to quadruple the number of MasterCards in Russia (which stood at 7 million cards in September 2004), would provide support for Russky Standard's expansion in the regions, Kommersant reported.

A similar contract between Home Credit and Finance bank and the Maestro card service was concluded in December last year.

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