Russia has urged consumers and businesses to use digital payments rather than cash in an effort to slow the spread of the coronavirus and told banks to limit ruble notes in circulation. Consumer safety watchdog Rospotrebnadzor this month encouraged Russians to move to cashless payments, citing World Health Organization guidelines stating that a virus can …
Russians urged to reject cash to slow coronavirus spread Read More
As the Russian government called retailers to keep their prices stable in spite of spiking demand for certain goods, Ozon – a top online retailer and marketplace – announced Friday that it was capping the prices of essential goods to protect customers’ interests. Even though Russia had only 367 confirmed COVID-19 cases as of March …
Ozon caps prices for the most sought-after goods to prevent gouging Read More
Russia is testing facial-payment technology at supermarkets and could roll it out on a large scale by the middle of the year. VTB, Russia’s second-largest lender, is testing the technology in the Lenta supermarket chain, the head of the bank’s digital division told Izvestia. Promsvyazbank, another Russian lender, is holding talks to launch the technology in …
Russian retailers test facial-payment technology, possible rollout in 2020 Read More
Russia’s largest e-commerce retailer Wildberries intends to sell the produce of self-employed individuals on its platform, Kommersant daily reported on March 2. The products would include artisanal apparel, footwear, accessories, and souvenirs. However, quality control issues could complicate the adoption of such new sellers on the platform, analysts surveyed by the daily believe. Kommersant notes AliExpress is using the …
Russian e-commerce leader Wildberries to sell products of self-employed individuals Read More
Four major Russian retailers – Beeline, Hoff, M.Video-Eldorado Group and X5 Retail Group – are teaming up to launch the Retail Innovation Tech Alliance (RITA), a startup scouting initiative in Russia and abroad. RITA will be seeking innovative solutions in a variety of fields, including e-commerce, transport and logistics, consumer experience, quality of goods, point-of-sale …
Major Russian retailers team up to scout startups globally Read More
Wildberries, Russia’s leading e-commerce player, considers expanding across Europe’s largest countries. After first steps in Slovakia and Poland, the company said it is “studying possible options to work in other countries of the EU, including France and Germany,” as reported last week by the Prime news agency. “Discussions are being held with officials from foreign …
Over the past few weeks three online delivery startups ceased activities, having failed to turn a profit or demonstrate viable business models. The e-grocery delivery service Golama made the news last year as it completed a $2.3 million round of funding, then agreed with VEB Ventures an additional $7 million capital injection. In mid-January 2020, however, …
Three Russian online delivery startups shut down amid strong market growth Read More
On March 19 the Moscow Expocenter will play host to the third edition of Fashion Tech Day, a must-attend conference dedicated to the fashion retail tech and e-commerce industries (see presentation in Russian). This event is co-organized by East-West Digital News and OneWay, a developer of online stores for clothing, footwear and accessories. It enjoys the support …
Meet fashion tech and e-commerce leaders at Fashion Tech Day (Moscow, March 19) Read More
Can a Russian billionaire become a digital leader after making his fortune in steel? “We have several investments related to human needs: education, medicine, traveling and retail. We are thinking of creating an ecosystem based on these assets – a kind of Amazon,” Alexey Mordashov told Bloomberg. “Each of these areas is on the verge of great change,” …
Russian billionaire Alexey Mordashov wants to create “a kind of Amazon” Read More
The Russian chatbot market is set to increase three-fold in 2020, reaching or exceeding 4 billion rubles (around $65 million at the current exchange rate), says a report by industry association Neuronet. This market already grew three-fold this year to around 1.5 billion rubles ($24 million). While banks, financial and insurance companies were initially the main …
Russian chatbot market takes off, banks and retailers among early adopters Read More
Earlier this month Bringly, the cross-border e-commerce marketplace of the Yandex Market group of companies, stopped accepting orders – just one year after its launch in beta version. The group intends to transfer its cross-border offers to Beru.ru, another marketplace initially designed for domestic purchases. Bringly aimed to become “a truly global platform, including both cheap goods from China and alternative …
ThePaypers, a major online publication dedicated to the payments and related industries, has just released its ‘Cross-Border Payments and Commerce Report 2019 – 2020.’ Available for download free of charge, this 144-page document depicts the major trends driving growth in cross-border payments, cross-border commerce, and marketplaces. It is intended for international retailers, global shipping companies, …
Cross-border payments and commerce report 2019–2020 Read More
