The first domestic payment terminal may appear on the Russian market as early as 2024. In this respect reports Vedomosti publication cites Alexander Sokolov, product director of the company Element-Technologies, which developed this device.
“We will be the first company to develop a domestic payment terminal in Russia. We will present a ready-made solution next year,” Sokolov said.
According to him, they will immediately create a product line that includes classic POS terminals, some “Android solutions” and embedded equipment. It is alleged that Element Technologies has already found a customer in one of the largest Russian banks and has agreed with it on the supply of terminals.
There is no information about the local level of Element-Technology devices. But Vedomosti writes that the norms of the Ministry of Industry and Trade allow POS terminals to be produced, for example, in China and still be recognized as Russian.
Experts interviewed by the publication state that the payment terminal market in Russia is estimated at 80-90 billion rubles. At the same time, the departure of large foreign sellers from the Russian Federation created great prospects for domestic manufacturers in this niche, since from 500 thousand to 1 million terminals are sold in the country every year.
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