The Ministry of Industry and Trade commented on the information about the possible departure of Ingenico

There are a number of large suppliers of cash register equipment in Russia, including cashless payment terminals. Thus, the Ministry of Industry and Trade commented on the news about the possible departure of the French supplier of terminals for receiving Ingenico cards. There are no reasons for aggravating the situation in this segment, the department added.

“A number of large suppliers of cash registers, including cashless payment terminals, are represented on the Russian market. These are, for example, the companies Inpas Company LLC, Atol LLC, Shtriz-M JSC. Enterprises have a sufficient supply of equipment to provide the market with equipment for card payments,” – reported press service of the Ministry of Industry and Trade in the Telegram channel.

At the same time, as stated in the message, the Ministry of Industry and Trade, together with the Central Bank of the Russian Federation and other banking organizations, participates in a working group on ensuring the technological sovereignty of the financial market.

The companies Engineering Stapel LLC, Atol LLC and Shtrikh-M JSC, including jointly with the Terminal Technologies Group of Companies, are developing and “deepening the localization of equipment for cashless payments in Russia,” the Ministry of Industry and Trade reported.

The department assured that there are no reasons for escalating the situation in the cash register equipment market. “Companies are working as usual, there are no problems with the availability of products in stock,” the Ministry of Industry and Trade concluded.

Earlier today RBC figured outthat the French company Ingenico, which manufactures terminals for receiving bank cards, may leave Russia. According to sources in the payment market, the company plans to complete all operations in the Russian Federation by March 1, while contracts with employees are valid until February 15. Technical support for POS terminals will continue until the end of March.

According to the Central Bank, about 4 million POS-terminals were used in Russia at the end of the third quarter of 2022, while Ingenico back in 2018 talked about the production of 1.5 million such devices in the Russian Federation, in 2019 it was transferred to Vietnam. The terminals of the French company at the same time occupy the main share in the network of POS-terminals of Sberbank, VTB and Promsvyazbank. According to Ilya Korobov, the provider of payment solutions INPAS, Ingenico’s share in the Russian market is about 50%, after its departure, there will be problems with the repair of terminals and technical support for software. There are real risks that the company’s terminals will work “until the first breakdown,” he warns. Alternatives to Ingenico products are mainly Asian vendors, Korobov added.