Wincor opens subsidiary in Russia

PADERBORN, Germany - Wincor Nixdorf International has established its own subsidiary in the Russian market, the company announced this week.

 

"We want to strengthen our already well-established position in the promising Russian market," said Eckard Heidloff, president and chief executive of Wincor Nixdorf.

The subsidiary is based in Moscow.

 

Heidloff said he foresees retail banks and companies in the Russian market entering a phase of competition, thus providing potential for growth.

 

Wincor Nixdorf says it is poised well to grow in both the banking and retail sectors. Strategic cooperation with local companies acting as sales and service partners has been ongoing since 1997. This business model has proved successful and will be supported and extended, the company says.

 

In the last 10 years, market share of ATMs has risen from 4 percent to 30 percent, while the market share of electronic POS systems for retailers saw an increase from 1 percent to 42 percent.

 

As measured by their balance-sheet totals, 11 of the 20 largest retail banks are customers of Wincor Nixdorf, according to Wincor Nixdorf. The company also says that 12 of the 20 largest Russian retail companies are among Wincor Nixdorf's customers. In addition, Wincor Nixdorf supports international retail companies wishing to expand into Russia .

 

With 256 ATMs and 456 electronic POS systems per 1 million inhabitants, Wincor says the Russian market offers promising perspectives, especially when compared to Western Europe, where the market has 736 ATMs and just fewer than 5,000 POS systems installed per 1 million inhabitants.