VAUGHAN, ONTARIO, Jan. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Comepay, Inc. (OTCPINK: CMPY) (“the Company”) is pleased to announce that its wholly owned subsidiary Chek-Online LLC, a leading manufacturer of fiscal cash registers in Russia, and developer of the family of Cassatka smart terminals, recently signed up Volvo (Russia) for provision of stationary smart terminal units located inside its data centers in Russia.
Under the terms of the usage agreements, transactions processed on the official Volvo Russia website will now be processed using the fiscal cash registers in the Chek-online data center in order to provide the required data to the Russian Federal Tax Service while continuing to provide purchase data directly to customers.
Volvo officially became a Chek-Online client at the end of November 2018, signing rental contracts for several fiscal cash registers in the Chek-online data center in order to bring the company in compliance with Russian Federal Law 54, which legislation requires businesses and individuals to convert to federally compliant cash registers providing sales data in a secure transfer, directly to the tax department.
While the online service does not process vehicle sales, the addition of Chek-online’s data center services ensure that customers' purchases of accessories and souvenirs from Volvo's exclusive online collection are in compliance with Russian Federal Tax Laws.
The online branded Volvo accessories website includes collections of branded watches, leather backpacks, mugs, glassware, cases and other assorted items designed for Volvo owners.
Starting in fiscal 2019, under the Russian Federal Tax legislation, payments to individuals and entities made electronically are required to comply with Regulation 54-FZ.
Comepay CEO, Dmitry Tsatskhin commented, “We expect to see increasing client acceptance and demand for fiscal cash registers in our data center. The ability for online, web-based businesses to become compliant quickly, and cost effectively, with the flip of a switch is gaining momentum as one of our many product options as businesses and individuals in Russia look to become compliant with tax regulation in Russia.”