Alfa-Bank, Russia’s first bank to issue Eurocard-Mastercard Virtual cards

Eurocard-MasterCard Virtual Card is accessible to each user of the global computer network, whose installment and service cost is only US$5 million for one year. The first installment, which can be spent any time, is only US$20.

The new card is a necessity for those who would like to use the services of virtual stores, while classical bankcards for Internet payments are still not considered safe.

Eurocard-MasterCard Virtual Cards are only intended to make payments in virtual stores. They can not be used to pay for goods and services in regular stores and retail service outlets, to receive cash, or to make hotel, ticket, and travel reservations.

Such a limitation is directed to a particular market segment to increase the level of security on the Internet. Separating traditional non-cash payments and payments made on the Internet allows Alfa-Bank clients to ensure security when working with personal accounts.

The network for Alfa-Bank cards is rather large, including all virtual stores that accept Eurocard-MasterCard. Due to the expanding use of the Intrernet in Russia, strong growth of online business is predicted. Runet already has more than 500 virtual stores. Alfa-Bank is proud to offer clients and all Internet users a new convenient, cheap, and safe way to make purchases.

Alfa-Bank’s Senior Vice-President Vladimir Izutin states, “Recently Europay International actively promotes its high-tech products in Russia’s plastic card and e-commerce markets. Alfa-Bank closely cooperates with Europlay in this area. Issuing the new product, Eurocard/MasterCard Virtual Card, is not only the first but a very important step in developing a secure e-commerce system in Russia. In the future we are planning other joint projects in the area of e-commerce security.”

Alfa-Bank is planning to develop its e-commerce business and offers clients new, more complex, interesting products for the Internet. Alfa-Bank is ready to provide acquiring services to retail outlets that wish to sell services or products online.

Alfa-Bank is a universal and high-tech bank. According to the size of capital and the increase of assets, the bank is one of Russia’s five largest banks. The bank has more than 60 regional branches throughout Russia, Kazakhstan, and the Ukraine. Alfa-Bank is a leader in plastic card technology with more than 100,000 plastic cards issued. Its market share is 10% for acquiring services.

The Europay International payment system with corporate offices located in Waterloo, Belgium, is a leading European company, which provides special products and services to more than 9,000 units. Currently, there are 250 million Eurocard/MasterCard, Maestro, Cirrus, and eurocheque cards in circulation. These cards are used as debit and credit cards in Europe and throughout the world and have access to 256,500 ATMs located in 41 countries throughout the world.

The alliance between MasterCard International and Europay provides banks with payment products that are accepted at 577,000 ATMs and more than 18 million retail outlets located in all corners of the world. On Europay’s site, products and services are discussed in detail. The site describes support systems that provide banks e-commerce solutions, card technologies based on microsystems, security and risk management, and converting to the Euro.