Third-party transaction processing coming to Russia

RIA Novosti: Two independent transaction processing companies -- Euronet Worldwide and EuroProcessing International -- have entered the Russian bank card market, signaling the emergence of independent processing in Russia.

Euronet Worldwide opened an office in Russia in December 2004 and is in talks with several banks on providing services. EuroProcessing International is finishing the registration of its subsidiary in Russia., and has already concluded a strategic partnership agreement with BIN-bank.

Analysts believe the emergence of independent processing in Russia is advantageous for both Russian and foreign small and medium-size banks.