OREANDA-NEWS. On 20 May 2009 was announced, that JSC SITRONICS (SITRONICS or the “Group”) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, had launched the production of banking cards on the basis of its business segment SITRONICS Smart Technologies.

In March 2009, "SITRONICS Smart Technologies" equipment received certificates of international payment systems Visa International and MasterCard International which allow to launch the production of a full range of banking cards. The production cycle includes all stages of card production - from plastic coloring and drawing the image to inputting customer personal data.

"SITRONICS Smart Technologies" business segment produces microchip cards, as well as magnetic strip cards, to meet the growing demand for the new type of cards with higher level of data security. The microchip card can be used for a number of purposes and serve as a transport, medical or bonus card.

According to the data of the Central Bank of the Russian Federation, over 119 million cards were produced in Russia in 2008, including 6 million cards with microchip. In 2008, the volume of the Russian microchip card market amounted to USD 9 million, and magnetic strip card market – to USD 56,5 million.

General Director of "SITRONICS Smart Technologies" business segment Vladimir Gaev commented: “According to our estimates, the capacity of the Russian market is likely to increase up to 100 million cards in 2009. We are now able to produce 40 million cards of various types per year, and we intend to secure a 15% share of the banking cards market in Russia by 2010. We are also ready to expand our production capacities”.