Russian banks switch to Chinese ATMs

On July 11, 2022, it became known about the purchase of Ak Bars Bank ATMs manufactured by the Chinese company GRG. The Russian credit institution will begin installing the purchased equipment in September 2022.

As a representative of Ak Bars Bank told Izvestia, devices for receiving and issuing cash were purchased. Earlier, ATMs from American manufacturers were used in the bank's network.

The transition of Russian banks to Chinese ATMs has begun

Ak Bars Bank is not the first Russian credit institution to decide to switch to Chinese ATMs. For example, Post Bank already uses such systems, and VTB is testing self-service devices, including those made in China.

Zenit plans to use Chinese and Korean ATMs. They can be delivered no earlier than the fourth quarter of 2022. A similar possibility is considered in UBR. Chinese ATMs can be purchased at Sberbank, Otkrytie and Novikombank, Izvestia writes.

The Central Bank of the Russian Federation told the newspaper that they are considering and assessing the capabilities of Russian manufacturers of various equipment - ATMs, counting and sorting machines, payment terminals. The Bank of Russia is negotiating with them. In some market segments, Russian players occupy a high share, they are competitive both in price and in technology, according to the regulator. They added that Russian manufacturers have the opportunity to expand their presence.

Vice-President of the Association of Banks of Russia Alexei Voilukov says that credit institutions by July 2022 have spare parts, components and consumables for ATMs or their supply through third countries has been established. According to him, until the end of 2022 there will be no problems with ATM.

Domestic ATMs are also being created in Russia by July 2022, but their full-scale launch requires both investment and time. According to experts interviewed by the publication, with the transition to Chinese ATMs, the quality of service is unlikely to change for consumers, given that this is a familiar number of devices for some banks.^[1]

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Шаблон:Remarks