Datamonitor
Citibank Russia, ZAO Express Card and MasterCard have launched a new joint credit card in Moscow, Russia. The bank has said that this new card contains a contact-free chip for travel in Moscow's underground rail system and also allows the holder to make purchases in stores and over the internet, to make utilities bills payments, to withdraw cash, and to avail numerous discounts available in Russia.
The partner companies releasing the card now plan to add the function of paying for travel on all forms of public transportation in Moscow. The combined credit card, based on the MasterCard Standard system, is an embossed card that can be used for payment at ATMs and payment terminals across the world, as well as being accepted by internet stores. Joel Kornreich, CEO of Citi for Russia and the Commonwealth of Independent States, said: "This card implements the concept of a universal payment tool and, in essence, it replaces several different cards. Using this card, the holder can not only quickly and easily pay for travel on the metro, make purchases in stores and on-line, and withdraw cash, but can also instantly, and without paying a commission, pay telephone and other utility bills, as well as get discounts."
