Penza, 19 June 2015. PenzaNews. The Penza Bank Kuznetsky has been successfully certified as a card issuer of MasterCard, an international payment service, using a new chip-based technology.

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The new “smart cards” will be provided to all new clients right from the beginning, while the current clients will receive the new cards during replacement.

“A chip card is the most secure card in the industry. The new technology will reduce the risks of ATM payments and protect the owners of MasterCard cards from potential losses through fraud,” the board chairman of Bank Kuznetsky Mikhail Dralin commented for PenzaNews agency.

Bank Kuznetsky was founded as a limited liability company and registered by the Bank of Russia on October 26, 1990, under No. 609. On January 19, 2012, it was transformed into OJSC Bank Kuznetsky.

On January 14, 2005, OJSC Bank Kuznetsky was included into the register of banks that are enrolled in the compulsory deposit insurance system under No. 428. In July 2014, AK&M rating agency confirmed the bank credit rating at “B++” on the national scale with a “stable” outlook.