Magnit retail chain plans to start card acceptance - Information portal

Magnit retail chain plans to start card acceptance

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14.03.2014 Количество просмотров 1877 views
Magnit plans to start card acceptance“Мagnit” retail chain, the largest retailer in Russia in terms of revenue and number of stores, intends to launch card acceptance in most of its convenience stores by the end of the year, says Sergey Galitskiy, “Magnit” CEO and principal shareholder, in his microblog. According to Galitskiy, more than a half of the convenience stores in “Мagnit” retail chain will start offering the option of card payments by the end of the year. Russian Standard Bank and VTB 24 will provide acquiring services to “Magnit”. Merchant agreement with Sberbank is at the stage of technical approval, “Magnit” spokesman says. The size of the banks’ fees is not disclosed.

Major competitors of “Magnit”, such as X5 Retail Group, Auchan, Metro, DIXY, Lenta and O’KEY have been accepting cards for a long time.

“This is a service that should be offered by all retailers,” says Khachatur Pombukhchan, Board Chairman, “Magnit”. “If our competitors have acquiring, we should have it, too.” According to him, card payment does not lead to a greater average amount of receipt. The main criterion for launching the acquiring service in a particular populated locality is the level of buyers’ expenditure for everyday goods, says Pombukhchan.
Source:  Retail&Loyalty

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