French payment services provider Ingenico Group has partnered with Russia’s Alfa Bank to enable local card processing in Russia for international merchants instead as a cross-border payment.
Majority of international merchants who sell to Russian customers, card purchases are commonly processed as cross-border payments. Such companies are expected to benefit with the new local processing service through improved success, minimised risk and better customer experience.
As part of the alliance, Alfa Bank will be integrated into Ingenico’s global network of acquiring partners, and international merchants can begin processing locally from the first quarter of this year.
Alfa Bank director of e-commerce monitoring, Aleksey Golenitchev said: “Russian consumers enjoy shopping online and increasingly purchase from international merchants, but the payment process can be challenging when the acquiring bank is outside of Russia.
“Ingenico works with many of the world’s biggest online merchants, and together we can connect these merchants to Russian consumers, with our domestic acquiring capability enabling a seamless process that benefits all parties.”
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Ingenico head of strategic partnerships for global online businesses Mike Goodenough said: “Our clients have been looking for ways to optimise their operations in Russia for years. By partnering with Alfa Bank, we can now offer our merchants a unique solution that is easy to implement and will immediately show results.”