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25 Jun 2013

BelCard, MasterCard to issue joint payment cards

MINSK, 25 June (BelTA) – Belarus’ biggest payment system BelCard and the international payment system MasterCard Worldwide will launch a joint project to issue banking cards. The agreement was signed by the Bank Processing Center (BPC) and MasterCard Worldwide, BelTA learnt from the Bank Processing Center.

The BPC informed that this is Belarus’ first agreement to issue payment cards incorporating two payment systems. In line with the agreement, any Belarusian bank that is a member of the MasterCard and BelCard systems will be able to issue both magnetic stripe cards and a new product - a chip payment card – under two brands. These cards will be serviced in Belarus by the two payment systems and by the MasterCard acquiring network abroad. Besides, banks that joined the BelCard payment system will get an opportunity to use modern payment technologies, in particular, microprocessors, and a technology of two-factor screening of cardholders during online transactions, a contactless payment technology and a money transfer service MasterCard MoneySend.

“Partnership with the Bank Processing Center opens up new opportunities for banks and MasterCard cardholders,” Head of MasterCard in Russia, Belarus and Armenia Ilya Ryaby said. This partnership means new products for banks. Customers will also benefit from that, because they will be able to enjoy the advantages of a domestic payment system, i.e. a broad coverage, and the benefits offered by an international card. “This is our first strategic project with a local payment system in Belarus and one more step towards the noncash world,” Ilya Ryaby said.

Confirming the strategic nature of the agreement, Director General of the Bank Processing Center Gennady Zubarev underlined that the alliance with the international payment system will open up new opportunities for BelCard customers, will help expand the coverage and develop multipurpose payment instruments.

“Cooperation with MasterCard Worldwide gives us the access to the international financial market and promises great prospects for the development of innovative payment cards technologies in Belarus,” Gennady Zubarev said.

The BelCard payment system was established in 1994. Since 2007 the BelCard trademark has been owned by the Bank Processing Center. In 2013 the trademark underwent restyling. As of 1 April 2013, there were about 5 million BelCard payment cards, or 47% of all the cards in circulation in Belarus. The transactions involving the cards of the domestic payment system exceeded 37%.

MasterCard is a multinational financial services corporation. MasterCard banking cards are used in over 210 countries and territories.

The Bank Processing Center provides a full range of services in the field of information and technical support of cashless transactions using plastic cards of the domestic payment system BelCard and international payment systems VISA, MasterCard WorldWide and American Express Limited on the territory of Belarus.

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