Ozon Bank Introduces Own Payment Terminals into Market
Ozon Bank, a significant player in the Russian payment services market, has developed its own software for terminal payments that accepts both card and QR code payments. This modern SoftPOS (software point-of-sale) technology sets Ozon Bank apart from traditional banks like Sber, VTB, Alfa Bank, and T-Bank.
The unique offering from Ozon Bank aims to provide merchants with a flexible and cost-effective solution for accepting payments. The software's multi-channel capabilities allow customers to pay using either cards or QR codes, similar to retail giants such as Rewe with their QR code wallet system. This feature incentivises payments through integrated loyalty programs.
One of the key advantages of Ozon Bank's software is its convenience and low cost. SoftPOS-based solutions eliminate the need for bulky terminals or dedicated hardware, making them particularly appealing to small to medium-sized merchants who prefer quick, smart, and mobile payment acceptance.
The flexibility of Ozon Bank's terminal payments software also extends to various client use cases, including retail and service industries. This versatility enables simple onboarding and offers merchants a range of payment options, unlike some traditional banks that rely mainly on conventional POS devices.
In July, Ozon Bank began deploying a network of ATMs, with the first 12 installed in Moscow, St. Petersburg, and Yekaterinburg. By the end of 2025, the number of ATMs is expected to increase to 350.
Ozon Bank's director, Vahe Ovassapyan, stated that the goal is to offer a competitive product. By embracing flexible payment acceptance technology and targeting merchants looking for innovative, lower-cost, and multi-format payment solutions, Ozon Bank positions itself competitively in the market.
With its modern approach to terminal payments, Ozon Bank presents a compelling alternative to established banks that often provide traditional POS terminals with potentially higher costs or more hardware requirements. By offering more accessible entry to mobile or software-only terminals, Ozon Bank appeals to merchants who value agility, modern payment methods, and possibly integrated loyalty or payment features tailored for Russia’s market.
Ozon Bank's director, Vahe Ovassapyan, emphasizes the importance of offering a competitive product by incorporating flexible and cost-effective payment solutions, like the SoftPOS technology for terminal payments, which sets it apart from traditional banks. This modern approach to finance, accessible to both merchants and customers, positions Ozon Bank as a compelling alternative in the market.
