News

Global Payments subsidiary opens in Moscow

September 8, 2005

ATLANTA -Global Payments Inc., an electronic payments processor, announced in a news release that MUZO, the company's Prague-based subsidiary, opened a new office in Moscow to increase and expand its activities in the developing Russian financial market. MUZO serves financial institutions with a comprehensive package of payment services including credit and debit card transaction processing, installation and servicing of ATM and POS terminals, as well as card issuing services.

MUZO's proprietary platform also is compliant with the international EMV standards for chip-based payment cards. MUZO now expects to offer and provide a full range of processing services to Russian and other international FIs through its Moscow office.

"The growth potential of the Russian financial market is substantial, and I am excited that we are part of that opportunity," said Stanislav Coufal, who will lead the new Russian operations. "Establishing a physical presence in the Russian market is an absolute necessity for the expansion of our client portfolio and will provide us with a significant competitive advantage."