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PERSPECTIVES ON DIGITAL CURRENCY

Sep 14, 2012

Moscow

Postcards from Russia: Innovating in Pastries and Payments

Today was another exciting day in Moscow, where the value Visa brings to merchants of all sizes came to life when I sat with the CEO of Correa’s restaurant chain. During an opportunistic interview, Ruslan Radjapov talked about how electronic payments are a key part of his restaurants’ past, present and future.

With one of its 9 restaurants and one of its 13 self-style “canteens” located in same office building as Visa in Russia, it was an obvious (and delicious) choice for a crew lunch on our first day. Thanks to our effervescent head of Corporate Relations in Russia, Karina Grosheva, we were introduced to Ruslan, who was more than happy to talk about the value electronic payments brings to his growing business.

Ruslan likes to think of Correa’s as a subtle and understated trail-blazer in the emerging Moscow food scene. Homemade Mediterranean-inspirited food in modern, yet inviting spaces has attracted rave reviews and, most importantly, a passionate and loyal customer base.  Part of their innovative approach to food, design and business was the early decision to accept Visa and other payment products.

In the words of Ruslan, accepting cards is all about “convenience…convenience for the customer who doesn’t need cash and convenience for us” since they can reduce their cash handling operations. From a standing start several years ago, Correa’s now processes somewhere between 25 percent and 30 percent of sales on Visa and other payment brands, according to Ruslan.

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Posted by: Richard Martin, Visa Corporate Relations on September 14, 2012 at 9:36 am