22 Apr 2021 11:00
MAGNIT PJSC (MGNT) Magnit Started Implementing Pay-With-A-Glance Technology in its Stores 22-Apr-2021 / 13:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
MAGNIT started IMPLEMENTing PAY-WITH-A-GLANCE TECHNOLOGY IN ITS STORES
Krasnodar (Russia), April 22, 2021: Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, continues to introduce convenient checkout technologies. A new "pay-with-a-glance" payment option is already available in ten stores of almost every format of Magnit stores in the cities of Moscow, Krasnodar, and Rostov-on-Don. By June, the Company plans to expand the service to more than 100 stores in Moscow and Krasnodar. The pay-with-a-glance payment service is being implemented in a partnership with Sberbank. The solution uses a tablet fitted with a 3D camera that can easily read facial features and curves and account for possible changes in appearance thanks to its high recognition accuracy and depth mapping. The bank ensures maximum security and prevents any hacking or spoofing of biometric data due to continuous improvement of recognition methods. The new technology is available to Sberbank's customers who have already enabled face recognition at a branch office or in the Sberbank Online mobile application and assigned the card to debit funds from. When checking out in a Magnit store where the technology is being tested, the customer just needs to select the "Pay with a Glance" option on the keypad display and look at the tablet-no other actions are required. Magnit has not limited piloting of the pay-with-a-glance payment solution to one format - the new feature is already available in Magnit Convenience and Cosmetic stores, Magnit Family supermarkets, and Magnit Extra superstores, both at self-service terminals and at regular staffed checkout desks. The service is also available in Magnit's new format - Magnit Go kiosk, located near the Company's HQ in Krasnodar.
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| ISIN: | US55953Q2021 |
| Category Code: | MSCU |
| TIDM: | MGNT |
| LEI Code: | 2534009KKPTVL99W2Y12 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 100593 |
| EQS News ID: | 1187711 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.