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Obuv Rossii Launches Payment Service for MFIs
10.10.2016 1682

Obuv Rossii Launches Payment Service for MFIs

A subsidiary of Obuv Rossii GC NPO Payment Standard launches a new service for microfinance organizations under the MicroCard brand. The service is implemented on the basis of MasterCard payment cards and involves the transfer of MFIs to cashless payments with their customers and crediting loans to cards, as well as a number of other financial services that will be available to MicroCard cardholders. “Payment Standard” already has successful experience in implementing payment services in the retail network of “Shoes of Russia” - now the monthly revenue for this project exceeds 100 million rubles

“The transfer of loans to non-cash forms is a trend in the microfinance market. Thanks to this, the market becomes more civilized and regulated. - comments Roman Ageev, chairman of the board of the Payment Standard non-profit organization. - In addition to automating the process of issuing loans and issuing cards, we can offer MFIs specializing in online loans, card issuing points - these are 450 shoe stores of Russia in more than 100 cities. Thus, such companies will have the opportunity to issue a card to their clients and, as a result, to conduct remote identification, which may be interesting for small MFIs located in one region. ”

The first major project of the Payment Standard was the introduction of the Arithmetic financial services system in Shoe stores of Russia in the summer of 2015. Now it combines the accumulative-discount system and financial services, such as cash desk payments, electronic wallet, credit payments, etc. In the summer of 2016, “Payment Standard” completed the issuance of MasterCard Arithmetic payment cards. In August, Obuv Rossii began crediting microloans to its customers on Arithmetic cards by MasterCard - a pilot project was launched in the company's stores in Novosibirsk. By the end of the year, Obuv Rossii plans to connect all other regions of its retail network to the service.

For more than a year of operation of the Arithmetic financial services system, more than 650 thousand cards have been issued and more than 500 outlets have been connected (the Shoe of Russia and even more 100 grocery stores in Siberian cities). Now the monthly revenue on cards “Arithmetic” and “Arithmetic” MasterCard (payments for services, payments for loans, accrued loans) exceeds 100 million rubles.

New cards for MFIs will be issued under the single MicroCard brand, with large volumes of issue there will be an opportunity to implement co-branding projects. MicroCard card holders will have access to those financial services that are implemented by the “Payment Standard” within the framework of the “Arithmetic” project, namely payment for services at the cash desk, personal account on the site, electronic wallet and other services, i.e. MFI clients will be able to use these cards as a full-fledged payment instrument.

The Obuv Rossii group of companies was founded in 2003; its head office is located in Novosibirsk. The main business areas are footwear production, retail and wholesale trade in footwear and related products. Obuv Rossii develops five shoe chains: Westfalika (monobrand, mid-price segment), Pedestrian (multi-brand shoe supermarket), Emilia Estra (shoes boutique), Rossita (store for the whole family) and Lisette (fashion shoe salons). The shoe chain "Obuv Rossii" today has more than 450 stores in more than 100 cities. The company's revenue in 2015 according to RAS amounted to 9 billion rubles, net profit - 1,3 billion rubles.

NPO Payment Standard is part of the Obuv Rossii group of companies and is the operator of the Arithmetic payment system. The organization was registered in December 2014 of the year, Bank of Russia license No. 3530-K for banking operations (payment NPO) from 28.01.2015. NPO “Payment Standard” is a member of the MasterCard payment system, an operator for the transfer of electronic funds.


A subsidiary of Obuv Rossii GC NPO Payment Standard launches a new service for microfinance organizations under the MicroCard brand.
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