Swedish company expands payment service to major European market

The company aims to increase the number of potential users as eight leading Russian banks

wearable payment

Swedish company expands payment service to major European market. Source:

Fidesmo has announced the launch of Fidesmo Pay in Russia together with the company ISBC. From now on, 8 major Russian banks offer the wearable payment service Fidesmo Pay. These are Gazprom Bank, Post Bank, Credit Bank of Moscow, Rosselkhozbank, Otkritie Bank, Alfa-Bank, TATSOTSBANK, Promsvyazbank.

ISBC Group is a provider of RFID technology, access control systems, and smart cards. This way, Fidesmo Pay enables the banks to offer their customers to improve contactless payments experience, by letting them tokenize their payment card onto a wearable of their own choice.

With the help of Fidesmo’s tokenization technology and Fidesmo Pay, ISBC wearables, such as the ISBC Pay keyring, will now also be able to be tokenized for payments.

The company also announced the launch of ISBC Key 2 with a new series called “Art in your pocket”. Each keyring contains a fragment of a painting, a tattoo artwork, a cartoon character, or a geometrical pattern. The new keyrings are equipped with a colored metal sleeve which enhances durability and is integrated into the overall design of the product.

Entering a new market is never easy, and when we enter a new market with as many as eight issuing banks at the same time, it makes a difference straight away. It also feels incredibly exciting to work with a company like ISBC, which also specializes in contactless payments. We look forward to supporting the Russian payment landscape with secure and user-friendly payments for a long time to come
Mattias Eld, CEO of Fidesmo

We’ve reported that Russia is set to trial digital ruble by the end of 2021.


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