Russian bank becomes largest card issuer among European banks
Date
9/24/2024 3:24:23 AM
(MENAFN) Sber, the Russian state-owned bank previously known as Sberbank, has been named the largest card issuer among European banks, according to an announcement from its press service on Friday. The information is based on the Nilson Report, an analytical publication from the United States that focuses on the card and mobile payments sector.
According to the report, by the end of 2023, Sber held a significant lead in terms of the number of bank cards issued and the value of point-of-sale (POS) transactions across Europe. Of the 920 million cards distributed by the top 50 European banks, 182 million, or 19.8 percent, were issued by Sber. Additionally, Sber’s POS transaction volume in 2023 approached USD500 billion.
Dmitry Malykh, Sber’s senior vice president, expressed that these results were expected.
Malykh highlighted that since 2021, Sber has regularly ranked as the leading issuer of both debit and credit cards in Europe. He added that the bank has been at the forefront of developing cutting-edge payment methods such as near-field communication (NFC), QR codes, and even "smile payments"through its SberPay platform, further reinforcing its position as a technological leader.
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