The Moscow-based company Element-Technologies, which develops high-tech equipment, will release the first domestic payment terminal in 2024.
According to Alexander Sokolov, Product Director at Element-Technologies, the finished solution will be presented next year. We are talking about a classic POS device (accepts bank cards with a chip, magnetic stripe, and contactless cards, as well as other devices that have contactless pairing - editor's note www1.ru), Android solutions, and embedded equipment.
An informed source stated that the management of Element-Technologies has already found a customer for their devices, a major Russian bank. However, he did not specify whether it was Sberbank, VTB, or another credit institution.
It is known that the French manufacturer Ingenico occupied half of the payment terminal market in Russia. About 30% accounted for Verifone (USA), and another 20% for Chinese devices.
In the spring of 2023, Ingenico left the Russian market, refusing to service 2 million of its devices. POS terminals currently used in Russia are imported from China. Some of them have Russian software installed.
It was previously reported that Sber will introduce new payment terminals with biometrics in Russian stores. Payment will be made after the customer smiles.
