Russia's largest bank has agreed to buy 130,000 payment terminals from VeriFone Holdings Inc.
The San Jose vendor announced the multimillion-dollar deal with Sberbank Wednesday.
The Moscow financial company will distribute to merchant customers VeriFone's Vx 510 dial, Ethernet and GPRS countertop products, Vx 610 wireless system, Vx 810 programmable PIN pad and PP1000SE PIN pad.
"Russia is one of several large, emerging markets for electronic payment products," a VeriFone representative said. "The market is vast with great potential" because the population is large but terminal penetration is relatively low.
Sberbank ordered 16,000 Vx 810 systems in the fourth quarter of 2009 and deployed them at its branches.