OREANDA-NEWS. September 30, 2013. VTB Group has completed Russia's largest merger of two payment technology companies with the integration of TransCreditCard into its payment-processing unit, MultiCarta. The combined company will operate under the MultiCarta brand.

Following the merger, MultiCarta intends to strengthen its position as one of Russia’s largest bank-card processing companies. The company currently provides services to over 60 banks, including VTB Group, as well as independent operators. MultiCarta's processing centres process around 1 billion transactions a year.

The company operates over 10,000 ATMs and over 30,000 POS terminals, including special terminals for Russian Railways, and has issued and is servicing more than 4 million cards. "We are pleased with the progress that has been made on this large and unique project," said Kirill Sviridenk, CEO of MultiСarta. “The core integration procedures are complete and we are now working on harmonising the two companies' technologies.

We are confident that the merger will aid the further development of VTB Group and strengthen the group’s position on the retail market. The expected synergies will give all of the company’s clients access to innovative technological solutions and services”. The merger is part of the ongoing integration of TransCreditBank into VTB Group.

After TransCreditBank's merger with VTB24 is finalized in November 2013, its large corporate clients will have access to services provided by VTB Bank, while SMEs and individuals will gain access to VTB24 products.