Russian Standard Bank has signed a long-term partnership Visa and Miles & More, a European airline loyalty program, to launch a co-branded rewards credit card in Russia.
The collaboration follows research by Visa Russia that found Russian travelers are the most willing to spend money on travel among European travelers and they also plan to raise their future travel budgets.
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Russian Standard Bank credit card business executive director Selim Ergoz said: "Co-branded card products issued jointly with the world’s leading companies is one of the key and most successful businesses of Russian Standard Bank.
Visa Russia CEO Andrew Torre said: "Moreover, in the future they plan to increase their travel budget. This means co-branded products for frequent travelers will become even more popular.
"Therefore our partnership with Russian Standard Bank and Miles & More is a matter of strategic importance, and we hope that new high-quality co-branded Visa products that meet all the requirements of the most demanding travelers, who will appreciate the comfort and bargain purchases, will emerge in the market as a part of our long-term agreement," Torre added.
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